Norges Bank acquired a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 295,153 shares of the financial services provider's stock, valued at approximately $5,236,000. Norges Bank owned 0.41% of Alexander & Baldwin as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC increased its holdings in shares of Alexander & Baldwin by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider's stock valued at $596,000 after acquiring an additional 648 shares during the period. American Century Companies Inc. grew its stake in Alexander & Baldwin by 3.4% in the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 797 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in Alexander & Baldwin by 4.4% in the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider's stock worth $371,000 after purchasing an additional 879 shares in the last quarter. Versant Capital Management Inc raised its holdings in Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock worth $39,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in shares of Alexander & Baldwin by 5.1% during the fourth quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider's stock valued at $401,000 after buying an additional 1,096 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.
Alexander & Baldwin Stock Up 0.1 %
Shares of ALEX traded up $0.02 during mid-day trading on Tuesday, hitting $16.63. 37,810 shares of the company traded hands, compared to its average volume of 462,309. The company has a market capitalization of $1.21 billion, a PE ratio of 26.81 and a beta of 1.03. 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 has a 50 day moving average of $17.44 and a 200 day moving average of $18.13. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30.
Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.
Alexander & Baldwin Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were paid a $0.225 dividend. This is a positive change from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.41%. Alexander & Baldwin's dividend payout ratio (DPR) is 107.14%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ALEX. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. 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, February 28th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th.
Check Out Our Latest Stock Analysis on ALEX
Alexander & Baldwin Company Profile
(
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.
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