American Century Companies Inc. Has $123.30 Million Stock Position in Matson, Inc. $MATX

American Century Companies Inc. increased its stake in shares of Matson, Inc. (NYSE:MATX) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,250,636 shares of the shipping company’s stock after acquiring an additional 35,229 shares during the quarter. American Century Companies Inc. owned about 4.01% of Matson worth $123,300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. increased its holdings in shares of Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Headlands Technologies LLC acquired a new stake in Matson during the second quarter worth about $28,000. Hantz Financial Services Inc. grew its position in Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after buying an additional 102 shares in the last quarter. State of Wyoming increased its stake in Matson by 482.8% during the third quarter. State of Wyoming now owns 542 shares of the shipping company’s stock valued at $53,000 after acquiring an additional 449 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Matson in the 1st quarter valued at approximately $78,000. 84.76% of the stock is owned by institutional investors.

Matson Stock Up 3.3%

Shares of NYSE:MATX opened at $171.61 on Tuesday. The company’s fifty day moving average is $149.51 and its 200-day moving average is $120.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.89. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $177.51. The company has a market capitalization of $5.35 billion, a PE ratio of 12.31 and a beta of 1.32.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 24th. The shipping company reported $4.60 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.91. The firm had revenue of $851.90 million for the quarter, compared to analyst estimates of $847.30 million. Matson had a net margin of 13.30% and a return on equity of 16.63%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.80 earnings per share. Equities research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, February 5th. Matson’s payout ratio is presently 10.33%.

Wall Street Analysts Forecast Growth

MATX has been the topic of several recent research reports. Wolfe Research reissued an “outperform” rating and set a $167.00 price objective on shares of Matson in a report on Thursday, January 8th. Stephens raised their target price on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $156.25.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.