Ritholtz Wealth Management Increases Stock Holdings in Matson, Inc. (NYSE:MATX)

Ritholtz Wealth Management lifted its position in Matson, Inc. (NYSE:MATX) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,741 shares of the shipping company’s stock after purchasing an additional 452 shares during the period. Ritholtz Wealth Management’s holdings in Matson were worth $1,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MATX. TruNorth Capital Management LLC purchased a new position in shares of Matson during the second quarter worth approximately $27,000. Redwood Wealth Management Group LLC purchased a new position in shares of Matson during the second quarter worth approximately $34,000. International Assets Investment Management LLC purchased a new position in shares of Matson during the second quarter worth approximately $39,000. Blue Trust Inc. raised its stake in shares of Matson by 226.9% during the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after acquiring an additional 413 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Matson during the second quarter worth approximately $79,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Joel M. Wine sold 11,444 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $128.65, for a total transaction of $1,472,270.60. Following the sale, the chief financial officer now owns 114,974 shares in the company, valued at approximately $14,791,405.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Matson news, CEO Matthew J. Cox sold 6,499 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $143.82, for a total value of $934,686.18. Following the completion of the transaction, the chief executive officer now owns 208,898 shares of the company’s stock, valued at approximately $30,043,710.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joel M. Wine sold 11,444 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $128.65, for a total value of $1,472,270.60. Following the completion of the transaction, the chief financial officer now directly owns 114,974 shares of the company’s stock, valued at approximately $14,791,405.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,180 shares of company stock worth $9,175,884. Corporate insiders own 2.32% of the company’s stock.

Matson Stock Performance

NYSE:MATX opened at $137.05 on Monday. The stock has a market cap of $4.79 billion, a P/E ratio of 16.16 and a beta of 1.07. The firm’s fifty day simple moving average is $134.07 and its 200 day simple moving average is $124.63. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $144.93. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Matson (NYSE:MATX) last announced its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The firm had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. As a group, research analysts predict that Matson, Inc. will post 11.45 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MATX shares. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens raised their target price on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd.

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.