Illinois Municipal Retirement Fund Raises Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Illinois Municipal Retirement Fund lifted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,760 shares of the financial services provider’s stock after purchasing an additional 1,638 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Alexander & Baldwin worth $705,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alexander & Baldwin by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Alexander & Baldwin by 19.9% during 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 acquiring an additional 572 shares during the period. KBC Group NV increased its holdings in Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Alexander & Baldwin during the 3rd quarter worth approximately $79,000. 91.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler upped 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. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Trading Down 0.8 %

ALEX stock opened at $17.96 on Tuesday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The business has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $18.64.

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

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.01%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s payout ratio is 107.14%.

Alexander & Baldwin 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.