Norges Bank Invests $5.24 Million in Alexander & Baldwin, Inc. (NYSE:ALEX)

Norges Bank acquired a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 295,153 shares of the financial services provider’s stock, valued at approximately $5,236,000.

A number of other large investors have also made changes to their positions in the stock. State Street Corp lifted its holdings in Alexander & Baldwin by 9.4% in the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock valued at $82,033,000 after purchasing an additional 363,223 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock valued at $15,612,000 after buying an additional 297,044 shares during the period. Regency Capital Management Inc. DE boosted its position in Alexander & Baldwin by 59.6% during the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock worth $7,641,000 after acquiring an additional 160,928 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alexander & Baldwin in the 4th quarter worth approximately $1,467,000. Finally, HighTower Advisors LLC acquired a new position in Alexander & Baldwin in the 3rd quarter valued at $1,151,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 2.1 %

Shares of NYSE ALEX opened at $16.53 on Thursday. The stock has a market capitalization of $1.20 billion, a PE ratio of 26.66 and a beta of 1.03. 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 firm has a fifty day moving average of $17.54 and a 200-day moving average of $18.21. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30.

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

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a $0.225 dividend. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.90 annualized dividend and a yield of 5.44%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 107.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALEX. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler lifted their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

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.