T. Rowe Price Investment Management Inc. Has $45.21 Million Holdings in Matson, Inc. $MATX

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Matson, Inc. by 2.0%, now owning 1.08% of the company valued at approximately $45.2 million.
• Matson recently reported quarterly earnings of $2.92 per share, significantly exceeding analysts' expectations, with revenues of $830.5 million, although this marked a 2.0% decline compared to the previous year.
• The company announced a quarterly dividend increase to $0.36 per share, up from $0.34, representing an annualized yield of 1.4% and a payout ratio of 9.74%.

T. Rowe Price Investment Management Inc. grew its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,746 shares of the shipping company's stock after buying an additional 6,747 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.08% of Matson worth $45,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Matson by 6.6% during the 1st quarter. American Century Companies Inc. now owns 1,158,834 shares of the shipping company's stock worth $148,528,000 after buying an additional 71,902 shares in the last quarter. Boston Partners lifted its position in Matson by 424.8% during the 1st 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 in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Matson by 1.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 603,634 shares of the shipping company's stock worth $77,368,000 after buying an additional 6,135 shares in the last quarter. Northern Trust Corp lifted its position in Matson by 14.5% during the 4th quarter. Northern Trust Corp now owns 484,432 shares of the shipping company's stock worth $65,321,000 after buying an additional 61,204 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Matson by 73.9% during the 4th 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 in the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the transaction, the senior vice president owned 13,441 shares in the company, valued at approximately $1,477,703.54. This represents a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.05% of the company's stock.

Analysts Set New Price Targets

MATX has been the topic of several analyst reports. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stifel Nicolaus cut their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Stephens lowered their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group restated a "hold" rating and set a $115.00 price objective on shares of Matson in a research note on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Matson presently has an average rating of "Hold" and an average price target of $131.67.

Matson Stock Performance

Shares of Matson stock traded down $0.81 during trading on Friday, hitting $104.65. 46,657 shares of the stock were exchanged, compared to its average volume of 404,678. Matson, Inc. has a 1-year low of $91.75 and a 1-year high of $169.12. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 7.07 and a beta of 1.22. The company has a fifty day moving average price of $108.86 and a 200-day moving average price of $115.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business had revenue of $830.50 million for the quarter, compared to analyst estimates of $727.30 million. During the same quarter in the prior year, the business earned $3.31 EPS. Matson's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 7th will be paid a $0.36 dividend. This is an increase from Matson's previous quarterly dividend of $0.34. The ex-dividend date is Thursday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. Matson's dividend payout ratio (DPR) is currently 9.74%.

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.