Ruffer LLP Purchases Shares of 30,740 Matson, Inc. $MATX

Key Points

• Ruffer LLP has acquired 30,740 shares of Matson, Inc. for approximately $3.42 million, representing about 0.09% ownership of the shipping company.
• Matson's latest earnings report showed an EPS of $2.92, exceeding estimates and reflecting a revenue of $830.50 million, although down 2% year-over-year.
• Most analysts have a consensus rating of "Hold" on Matson stock, with a target price of $131.67, despite varied ratings among individual analysts.

Ruffer LLP acquired a new position in Matson, Inc. (NYSE:MATX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,740 shares of the shipping company's stock, valued at approximately $3,423,000. Ruffer LLP owned about 0.09% of Matson at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in shares of Matson in the first quarter valued at about $34,000. Ameriflex Group Inc. acquired a new position in Matson during the fourth quarter valued at approximately $36,000. State of Wyoming grew its holdings in Matson by 495.3% during the first quarter. State of Wyoming now owns 381 shares of the shipping company's stock valued at $49,000 after purchasing an additional 317 shares during the period. NewEdge Advisors LLC acquired a new position in Matson during the first quarter valued at approximately $78,000. Finally, Covestor Ltd grew its holdings in Matson by 30.4% during the first quarter. Covestor Ltd now owns 764 shares of the shipping company's stock valued at $98,000 after purchasing an additional 178 shares during the period. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

NYSE:MATX opened at $103.93 on Thursday. The stock's 50-day simple moving average is $105.97 and its 200 day simple moving average is $110.65. The firm has a market capitalization of $3.30 billion, a PE ratio of 7.03 and a beta of 1.21. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.18 by $0.74. The firm had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $3.31 earnings per share. On average, analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research upgraded Matson from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 16th. Jefferies Financial Group restated a "hold" rating and issued a $115.00 target price on shares of Matson in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $131.67.

Insider Buying and Selling

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.05% of the company's stock.

Matson Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.

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