Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Given Consensus Rating of “Hold” by Analysts

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) has earned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.95.

A number of research firms have recently weighed in on ALEX. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander & Baldwin in a research report on Monday, December 8th. Industrial Alliance Securities set a $20.85 price target on shares of Alexander & Baldwin in a report on Wednesday, December 10th. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Tuesday, December 9th. Finally, Janney Montgomery Scott cut Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research note on Wednesday, December 10th.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $20.97 on Wednesday. The company has a 50-day simple moving average of $16.64 and a two-hundred day simple moving average of $17.68. Alexander & Baldwin has a 12-month low of $15.07 and a 12-month high of $21.03. 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 company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47.

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). The company had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. On average, equities analysts forecast that Alexander & Baldwin will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

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

Institutional Trading of Alexander & Baldwin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEX. Franklin Resources Inc. increased its position in shares of Alexander & Baldwin by 33.1% during the second quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider’s stock valued at $44,886,000 after buying an additional 626,289 shares during the period. Nuveen LLC bought a new stake in Alexander & Baldwin during the 1st quarter valued at approximately $8,116,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Alexander & Baldwin by 288.3% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 509,051 shares of the financial services provider’s stock worth $9,260,000 after acquiring an additional 377,948 shares during the period. Norges Bank purchased a new position in shares of Alexander & Baldwin during the 2nd quarter worth approximately $6,359,000. Finally, Millennium Management LLC raised its position in shares of Alexander & Baldwin by 81.8% in the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock worth $12,715,000 after acquiring an additional 331,969 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

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.