State of New Jersey Common Pension Fund D Buys 5,811 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

State of New Jersey Common Pension Fund D increased its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,654 shares of the financial services provider’s stock after purchasing an additional 5,811 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.16% of Alexander & Baldwin worth $2,069,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jane Street Group LLC increased its position in shares of Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 35,916 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Alexander & Baldwin in the third quarter worth approximately $1,151,000. Victory Capital Management Inc. boosted its stake in Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after buying an additional 29,006 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ALEX. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $17.62 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of 28.41 and a beta of 1.29. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The business has a 50 day moving average price of $17.70 and a 200-day moving average price of $18.67.

Alexander & Baldwin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.16%.

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.