New Age Alpha Advisors LLC Acquires New Shares in Alexander & Baldwin, Inc. (NYSE:ALEX)

New Age Alpha Advisors LLC bought a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 38,497 shares of the financial services provider’s stock, valued at approximately $683,000. New Age Alpha Advisors LLC owned 0.05% of Alexander & Baldwin as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in Alexander & Baldwin during the fourth quarter valued at approximately $5,236,000. JPMorgan Chase & Co. increased its holdings in shares of Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock valued at $15,612,000 after acquiring an additional 297,044 shares during the period. EntryPoint Capital LLC raised its position in shares of Alexander & Baldwin by 151.5% in the 4th quarter. EntryPoint Capital LLC now owns 36,635 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 22,069 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Alexander & Baldwin by 32.8% during the 4th quarter. Prudential Financial Inc. now owns 99,997 shares of the financial services provider’s stock worth $1,774,000 after purchasing an additional 24,700 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in Alexander & Baldwin by 49.4% during the fourth quarter. Fox Run Management L.L.C. now owns 42,304 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 13,994 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the subject of several analyst reports. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Piper Sandler increased their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock opened at $17.21 on Tuesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 27.76 and a beta of 1.27. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $17.73 and a 200 day moving average price of $18.38.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data 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. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.23%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 107.14%.

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.