American Century Companies Inc. Has $148.53 Million Holdings in Matson, Inc. (NYSE:MATX)

American Century Companies Inc. boosted its holdings in shares of Matson, Inc. (NYSE:MATX) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,158,834 shares of the shipping company’s stock after buying an additional 71,902 shares during the quarter. American Century Companies Inc.’s holdings in Matson were worth $148,528,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MATX. Boston Partners increased its position in Matson by 424.8% during the first quarter. Boston Partners now owns 958,170 shares of the shipping company’s stock worth $121,428,000 after buying an additional 775,600 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in Matson during the fourth quarter worth approximately $34,897,000. Nuveen LLC acquired a new position in Matson during the first quarter worth approximately $23,325,000. Ameriprise Financial Inc. increased its position in Matson by 73.9% during the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock worth $56,157,000 after buying an additional 177,000 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Matson by 14,218.7% during the first quarter. GAMMA Investing LLC now owns 175,977 shares of the shipping company’s stock worth $22,555,000 after buying an additional 174,748 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Trading Up 0.3%

Shares of MATX stock opened at $105.01 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.34 billion, a P/E ratio of 7.10 and a beta of 1.22. The stock has a 50 day simple moving average of $110.32 and a 200 day simple moving average of $117.61. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12.

Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 earnings per share 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 analysts’ expectations of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.31 EPS. On average, research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.4%. This is a boost from Matson’s previous quarterly dividend of $0.34. Matson’s payout ratio is presently 9.74%.

Insider Buying and Selling at Matson

In other Matson news, SVP Leonard P. Isotoff sold 500 shares of Matson stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total value of $55,735.00. Following the completion of the transaction, the senior vice president directly owned 5,644 shares of the company’s stock, valued at $629,136.68. The trade was a 8.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction on Thursday, August 7th. The shares were 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 of the company’s stock, valued at $1,477,703.54. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company’s stock.

Analyst Ratings Changes

MATX has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective on shares of Matson in a report on Friday, August 1st. Stifel Nicolaus reduced their price objective on Matson from $160.00 to $130.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Stephens reduced their price objective on Matson from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Finally, Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $131.67.

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.