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

by · The Cerbat Gem

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX – Get Free Report) has been assigned an average rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $20.9250.

A number of equities analysts have recently weighed in on ALEX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Alexander & Baldwin in a report on Monday. Janney Montgomery Scott downgraded shares of Alexander & Baldwin to a “neutral” rating in a research note on Wednesday. Piper Sandler lowered shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Tuesday. Industrial Alliance Securities set a $20.85 price target on shares of Alexander & Baldwin in a report on Wednesday. Finally, Alliance Global Partners lowered shares of Alexander & Baldwin to a “neutral” rating in a research report on Wednesday.

Read Our Latest Stock Analysis on Alexander & Baldwin

Alexander & Baldwin Stock Performance

ALEX traded up $0.04 during trading on Wednesday, hitting $20.89. 4,173,340 shares of the stock were exchanged, compared to its average volume of 501,741. 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 has a 1-year low of $15.07 and a 1-year high of $20.97. The stock has a fifty day moving average price of $16.32 and a two-hundred day moving average price of $17.56. The firm has a market capitalization of $1.52 billion, a P/E ratio of 20.68, a PEG ratio of 1.36 and a beta of 1.00.

Alexander & Baldwin (NYSE:ALEX – Get Free Report) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). The business had revenue of $50.25 million for the quarter, compared to analysts’ expectations of $50.69 million. Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%. As a group, sell-side analysts predict that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Friday, December 19th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.7%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, December 19th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 89.11%.

Hedge Funds Weigh In On Alexander & Baldwin

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

About Alexander & Baldwin

(Get Free Report)

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.

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