Federated Hermes Inc. Boosts Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Federated Hermes Inc. raised its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 88.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,641 shares of the financial services provider’s stock after acquiring an additional 1,240 shares during the period. Federated Hermes Inc.’s holdings in Alexander & Baldwin were worth $50,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alexander & Baldwin by 46.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,114 shares during the period. Everett Harris & Co. CA purchased a new stake in shares of Alexander & Baldwin during the fourth quarter worth about $195,000. Cerity Partners LLC purchased a new stake in shares of Alexander & Baldwin during the fourth quarter worth about $211,000. CKW Financial Group boosted its holdings in shares of Alexander & Baldwin by 588.4% during the fourth quarter. CKW Financial Group now owns 15,861 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 13,557 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in Alexander & Baldwin in the fourth quarter worth about $346,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Up 0.9 %

Shares of Alexander & Baldwin stock opened at $16.59 on Tuesday. The company’s fifty day simple moving average is $16.27 and its 200-day simple moving average is $16.98. The stock has a market capitalization of $1.20 billion, a PE ratio of 27.20 and a beta of 1.21. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $19.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.38.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. The business had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. During the same quarter last year, the company posted $0.29 EPS. As a group, equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.14 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be paid a dividend of $0.222 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.90%.

Analyst Ratings Changes

Several brokerages have commented on ALEX. Piper Sandler lowered their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. TheStreet downgraded shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.50.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.