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

Vanguard Group Inc. grew its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,771,709 shares of the financial services provider’s stock after acquiring an additional 126,357 shares during the period. Vanguard Group Inc. owned 16.18% of Alexander & Baldwin worth $214,127,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Evelyn Partners Asset Management Ltd bought a new stake in shares of Alexander & Baldwin during the 2nd quarter worth approximately $25,000. Jones Financial Companies Lllp bought a new position in shares of Alexander & Baldwin in the 1st quarter valued at about $41,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Alexander & Baldwin in the 2nd quarter valued at about $46,000. GAMMA Investing LLC grew its holdings in Alexander & Baldwin by 52.5% during the third quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 942 shares during the period. Finally, Covestor Ltd raised its stake in Alexander & Baldwin by 44.2% in the third quarter. Covestor Ltd now owns 3,068 shares of the financial services provider’s stock valued at $56,000 after buying an additional 941 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

NYSE:ALEX opened at $20.80 on Monday. Alexander & Baldwin Holdings, Inc. has a 52 week low of $15.07 and a 52 week high of $21.03. 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 firm’s 50-day simple moving average is $20.74 and its 200 day simple moving average is $18.70. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 20.59 and a beta of 0.90.

Alexander & Baldwin (NYSE:ALEX) last announced 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 business had revenue of $50.99 million for the quarter, compared to analyst estimates of $49.99 million. As a group, sell-side analysts predict that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.40 annualized dividend and a yield of 6.7%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s payout ratio is presently 138.61%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ALEX shares. 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 downgraded shares of Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Wednesday, December 10th. Weiss Ratings raised shares of Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. iA Financial set a $20.85 target price on shares of Alexander & Baldwin in a report on Wednesday, December 10th. Finally, Piper Sandler lowered shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.95.

About Alexander & Baldwin

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.