Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $18.00, but opened at $18.62. Alexander & Baldwin shares last traded at $18.84, with a volume of 53,461 shares trading hands.
The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million.
Alexander & Baldwin Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.225 per share. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.90 annualized dividend and a yield of 5.06%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 107.14%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ALEX. StockNews.com lowered Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Friday. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, Piper Sandler lifted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday.
View Our Latest Stock Analysis on ALEX
Institutional Investors Weigh In On Alexander & Baldwin
Several hedge funds have recently made changes to their positions in ALEX. Smartleaf Asset Management LLC lifted its position in Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after buying an additional 1,239 shares during the period. Versant Capital Management Inc increased its stake in shares of Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,034 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after acquiring an additional 572 shares during the period. Finally, KBC Group NV boosted its position in shares of Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock worth $74,000 after acquiring an additional 1,338 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.
Alexander & Baldwin Trading Down 1.0 %
The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The business's fifty day moving average is $17.70 and its 200-day moving average is $18.64. The stock has a market capitalization of $1.29 billion, a PE ratio of 28.67 and a beta of 1.29.
About Alexander & Baldwin
(
Get Free Report)
Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.
Featured Articles
Before you consider Alexander & Baldwin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alexander & Baldwin wasn't on the list.
While Alexander & Baldwin currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
