American Century Companies Inc. lifted its stake in Matson, Inc. (NYSE:MATX – Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 543,042 shares of the shipping company’s stock after buying an additional 80,409 shares during the quarter. American Century Companies Inc. owned about 1.50% of Matson worth $32,403,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in shares of Matson by 313.2% in the first quarter. Envestnet Asset Management Inc. now owns 193,400 shares of the shipping company’s stock worth $2,652,000 after buying an additional 146,589 shares during the period. Rhumbline Advisers lifted its holdings in Matson by 10.9% in the 1st quarter. Rhumbline Advisers now owns 127,136 shares of the shipping company’s stock worth $7,586,000 after purchasing an additional 12,518 shares in the last quarter. Cambria Investment Management L.P. lifted its holdings in Matson by 10.8% in the 1st quarter. Cambria Investment Management L.P. now owns 99,840 shares of the shipping company’s stock worth $5,957,000 after purchasing an additional 9,750 shares in the last quarter. Concentric Wealth Management LLC lifted its holdings in Matson by 20.5% in the 1st quarter. Concentric Wealth Management LLC now owns 13,953 shares of the shipping company’s stock worth $833,000 after purchasing an additional 2,369 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Matson by 31.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 31,000 shares of the shipping company’s stock worth $1,850,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 84.81% of the company’s stock.
Wall Street Analysts Forecast Growth
MATX has been the topic of a number of research analyst reports. StockNews.com raised Matson from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Stephens boosted their price target on Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Matson from $86.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd.
Matson Stock Performance
NYSE:MATX opened at $87.24 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.05 and a quick ratio of 1.05. Matson, Inc. has a 1 year low of $56.51 and a 1 year high of $97.49. The stock’s 50 day simple moving average is $85.11 and its two-hundred day simple moving average is $72.84. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 7.16 and a beta of 1.21.
Matson (NYSE:MATX – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The shipping company reported $2.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.26. Matson had a return on equity of 20.04% and a net margin of 13.52%. The business had revenue of $773.40 million for the quarter, compared to the consensus estimate of $762.35 million. During the same quarter in the previous year, the company posted $9.49 EPS. The company’s revenue was down 38.7% compared to the same quarter last year. As a group, equities analysts anticipate that Matson, Inc. will post 5.81 earnings per share for the current fiscal year.
Matson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. This is an increase from Matson’s previous quarterly dividend of $0.31. Matson’s payout ratio is currently 10.50%.
Insider Activity
In other news, SVP Laura L. Rascon sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $94.25, for a total transaction of $84,542.25. Following the transaction, the senior vice president now owns 9,701 shares of the company’s stock, valued at approximately $914,319.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Laura L. Rascon sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $94.25, for a total transaction of $84,542.25. Following the transaction, the senior vice president now owns 9,701 shares of the company’s stock, valued at approximately $914,319.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher A. Scott sold 678 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $76.30, for a total value of $51,731.40. Following the transaction, the senior vice president now directly owns 12,276 shares in the company, valued at approximately $936,658.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,220 shares of company stock valued at $3,063,713. 1.90% of the stock is currently owned by insiders.
Matson Profile
Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.
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