Alexander & Baldwin (NYSE:ALEX) Cut to Hold at StockNews.com

StockNews.com cut shares of Alexander & Baldwin (NYSE:ALEX) from a buy rating to a hold rating in a report issued on Sunday.

A number of other equities analysts have also issued reports on the company. Piper Sandler boosted their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.47 on Friday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.17 and a beta of 1.27. The stock’s fifty day moving average is $17.75 and its 200-day moving average is $18.52. Alexander & Baldwin has a one year low of $15.53 and a one year high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Equities analysts anticipate that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is 107.14%.

Hedge Funds Weigh In On Alexander & Baldwin

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALEX. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares during the period. Bank of Montreal Can lifted its stake in Alexander & Baldwin by 2.3% in the 4th quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 615 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in Alexander & Baldwin by 2.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 648 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Alexander & Baldwin by 5.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 683 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Alexander & Baldwin by 3.4% during the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 797 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Company Profile

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.