Segall Bryant & Hamill LLC Acquires New Holdings in Alexander & Baldwin Holdings, Inc. $ALEX

Segall Bryant & Hamill LLC bought a new stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) in the third quarter, HoldingsChannel reports. The fund bought 59,797 shares of the financial services provider’s stock, valued at approximately $1,088,000.

Several other institutional investors have also modified their holdings of the business. Franklin Resources Inc. lifted its stake in Alexander & Baldwin by 33.1% in 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 in the last quarter. Norges Bank acquired a new stake in shares of Alexander & Baldwin during the second quarter worth $6,359,000. Millennium Management LLC lifted its position in Alexander & Baldwin by 81.8% in the 1st quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider’s stock valued at $12,715,000 after acquiring an additional 331,969 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Alexander & Baldwin by 21.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider’s stock valued at $27,018,000 after acquiring an additional 263,483 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake 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 worth $7,408,000 after purchasing an additional 169,009 shares during the period. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

ALEX opened at $20.81 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of 20.60 and a beta of 0.90. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.07 and a fifty-two week high of $21.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.38 and a current ratio of 0.27. The stock has a fifty day moving average of $20.76 and a 200-day moving average of $18.78.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings data on Thursday, March 12th. The financial services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.21). Alexander & Baldwin had a net margin of 31.29% and a return on equity of 6.43%. The firm had revenue of $50.99 million for the quarter, compared to analyst estimates of $49.99 million. On average, equities analysts expect that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, December 19th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, December 19th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 138.61%.

Analysts Set New Price Targets

A number of analysts have recently commented on ALEX shares. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Tuesday, December 9th. Weiss Ratings raised Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, January 30th. Alliance Global Partners cut Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Janney Montgomery Scott downgraded Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Wednesday, December 10th. Finally, iA Financial set a $20.85 price target on shares of Alexander & Baldwin in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alexander & Baldwin currently has an average rating of “Hold” and an average price target of $20.95.

About Alexander & Baldwin

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.