Vanguard Group Inc. Purchases 126,357 Shares of Alexander & Baldwin Holdings, Inc. $ALEX

Vanguard Group Inc. boosted its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 1.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,771,709 shares of the financial services provider’s stock after purchasing an additional 126,357 shares during the period. Vanguard Group Inc. owned 0.16% of Alexander & Baldwin worth $214,127,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALEX. State of New Jersey Common Pension Fund D lifted its holdings in shares of Alexander & Baldwin by 5.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 114,358 shares of the financial services provider’s stock worth $2,080,000 after acquiring an additional 6,052 shares during the period. HighTower Advisors LLC lifted its stake in Alexander & Baldwin by 8.0% during the third quarter. HighTower Advisors LLC now owns 89,154 shares of the financial services provider’s stock worth $1,622,000 after purchasing an additional 6,601 shares during the last quarter. Aberdeen Group plc acquired a new stake in shares of Alexander & Baldwin in the 3rd quarter valued at $452,000. Metis Global Partners LLC increased its stake in shares of Alexander & Baldwin by 36.6% in the 3rd quarter. Metis Global Partners LLC now owns 16,398 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 4,396 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Alexander & Baldwin by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 283,781 shares of the financial services provider’s stock valued at $5,162,000 after purchasing an additional 35,886 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $20.80 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38. The business’s 50 day moving average price is $20.74 and its two-hundred day moving average price is $18.70. The firm has a market cap of $1.51 billion, a PE ratio of 20.59 and a beta of 0.90. Alexander & Baldwin Holdings, Inc. has a 52-week low of $15.07 and a 52-week high of $21.03.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Friday, February 27th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.21). Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%.The firm had revenue of $50.99 million during the quarter, compared to the consensus estimate of $49.99 million. On average, equities analysts anticipate that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 19th. 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. Alexander & Baldwin’s payout ratio is presently 138.61%.

Analysts Set New Price Targets

ALEX has been the topic of several research analyst reports. Weiss Ratings raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 30th. Janney Montgomery Scott cut shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Wednesday, December 10th. Alliance Global Partners lowered shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Piper Sandler cut shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday, December 9th. Finally, iA Financial set a $20.85 price objective on shares of Alexander & Baldwin in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Alexander & Baldwin currently has an average rating of “Hold” and an average target price of $20.95.

Alexander & Baldwin Profile

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.