Raymond James Financial Inc. Makes New Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Raymond James Financial Inc. bought a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,310 shares of the financial services provider’s stock, valued at approximately $272,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its position in Alexander & Baldwin by 153.9% in the third quarter. FMR LLC now owns 16,080 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 9,746 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Alexander & Baldwin in the third quarter worth $1,151,000. Point72 Asset Management L.P. boosted its position in shares of Alexander & Baldwin by 35.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 2,363 shares during the last quarter. State Street Corp increased its holdings in shares of Alexander & Baldwin by 9.4% in the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 35,916 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $15.99 on Friday. The company has a market capitalization of $1.16 billion, a P/E ratio of 25.78 and a beta of 1.03. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The firm has a 50 day moving average of $17.50 and a 200 day moving average of $18.18.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 107.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Piper Sandler raised their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

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.