Alexander & Baldwin (NYSE:ALEX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Alexander & Baldwin (NYSE:ALEX) from a hold rating to a buy rating in a report released on Saturday.

Other equities research analysts have also issued research reports about the stock. Piper Sandler increased their price objective 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 reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of NYSE:ALEX opened at $18.36 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.61 and a beta of 1.27. The business has a 50 day moving average price of $17.73 and a 200 day moving average price of $18.59. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin has a twelve month low of $15.53 and a twelve month high of $20.30.

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

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, March 14th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is 107.14%.

Institutional Trading of Alexander & Baldwin

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

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.