Amundi Acquires 22,287 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Amundi boosted its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 43.6% in the fourth quarter, HoldingsChannel reports. The firm owned 73,365 shares of the financial services provider’s stock after purchasing an additional 22,287 shares during the period. Amundi’s holdings in Alexander & Baldwin were worth $1,270,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 572 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in 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 purchasing an additional 648 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Alexander & Baldwin by 5.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 683 shares during the period. CKW Financial Group boosted its position in shares of Alexander & Baldwin by 5.8% during the 3rd quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 924 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,034 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of research reports. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler boosted their price target 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 Stock Performance

Shares of ALEX opened at $17.47 on Wednesday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 28.17 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 stock has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $18.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

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

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 5.15%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is currently 107.14%.

About Alexander & Baldwin

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.