Alexander & Baldwin (NYSE:ALEX) Sets New 12-Month High – Still a Buy?

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $20.97 and last traded at $20.9550, with a volume of 447202 shares traded. The stock had previously closed at $20.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALEX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander & Baldwin in a report on Monday, December 8th. Alliance Global Partners downgraded Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Janney Montgomery Scott lowered Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Wednesday, December 10th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. Finally, Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.95.

Alexander & Baldwin Trading Down 0.2%

The firm has a market capitalization of $1.52 billion, a P/E ratio of 20.73 and a beta of 1.00. The business’s 50 day moving average is $16.64 and its two-hundred day moving average is $17.68. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The company had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. Analysts expect that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Friday, December 19th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, December 19th. Alexander & Baldwin’s payout ratio is currently 138.61%.

Institutional Trading of Alexander & Baldwin

Hedge funds and other institutional investors have recently modified their holdings of the company. Evelyn Partners Asset Management Ltd bought a new position in Alexander & Baldwin during the second quarter valued at about $25,000. Jones Financial Companies Lllp acquired a new position in shares of Alexander & Baldwin in the 1st quarter worth approximately $41,000. Parallel Advisors LLC raised its holdings in shares of Alexander & Baldwin by 76.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,069 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Alexander & Baldwin during the second quarter valued at approximately $46,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Alexander & Baldwin during the third quarter valued at approximately $49,000. Institutional investors own 91.29% of the company’s stock.

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.