Alexander & Baldwin (NYSE:ALEX) Sets New 12-Month High – Here’s Why

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX)’s share price reached a new 52-week high on Monday . The stock traded as high as $20.97 and last traded at $20.9550, with a volume of 447202 shares. The stock had previously closed at $20.93.

Wall Street Analyst Weigh In

ALEX has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alexander & Baldwin in a research note on Monday, December 8th. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Industrial Alliance Securities set a $20.85 price objective on Alexander & Baldwin in a research note on Wednesday. Piper Sandler downgraded Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target for the company. in a report on Tuesday, December 9th. Finally, Janney Montgomery Scott lowered Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research report on Wednesday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Alexander & Baldwin has an average rating of “Hold” and an average price target of $20.95.

Alexander & Baldwin Stock Performance

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 20.76 and a beta of 1.00. The stock has a 50-day moving average of $16.50 and a 200-day moving average of $17.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. The business had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.69 million. As a group, analysts anticipate that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Friday, December 19th will be paid a $0.35 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Friday, December 19th. Alexander & Baldwin’s dividend payout ratio is 89.11%.

Hedge Funds Weigh In On Alexander & Baldwin

Large investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its position in shares of Alexander & Baldwin by 39.1% in the first quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 23,322 shares during the period. Vanguard Group Inc. lifted its position in Alexander & Baldwin by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider’s stock worth $200,732,000 after purchasing an additional 172,992 shares during the period. Voya Investment Management LLC grew its stake in Alexander & Baldwin by 47.1% during the first quarter. Voya Investment Management LLC now owns 118,892 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 38,092 shares in the last quarter. US Bancorp DE increased its holdings in Alexander & Baldwin by 468.6% in the 1st quarter. US Bancorp DE now owns 6,795 shares of the financial services provider’s stock valued at $117,000 after buying an additional 5,600 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Alexander & Baldwin by 68.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 415,452 shares of the financial services provider’s stock valued at $7,408,000 after buying an additional 169,009 shares during the period. 91.29% of the stock is owned by institutional investors.

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.