Raymond James Financial Inc. Acquires Shares of 15,310 Alexander & Baldwin, Inc. (NYSE:ALEX)

Raymond James Financial Inc. acquired a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,310 shares of the financial services provider’s stock, valued at approximately $272,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in shares of 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 worth $490,000 after buying an additional 615 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of 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 worth $596,000 after buying an additional 648 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Alexander & Baldwin by 3.4% in the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock worth $429,000 after buying an additional 797 shares in the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Alexander & Baldwin by 4.4% in the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider’s stock worth $371,000 after buying an additional 879 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Alexander & Baldwin by 5.1% in the fourth quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider’s stock worth $401,000 after buying an additional 1,096 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALEX shares. StockNews.com downgraded shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler raised their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Alexander & Baldwin Price Performance

ALEX stock opened at $17.54 on Monday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.29 and a beta of 0.99. The firm’s 50-day moving average price is $17.09 and its two-hundred day moving average price is $17.91. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 12-month low of $15.70 and a 12-month high of $20.30.

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, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, equities analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.13%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 105.88%.

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.