Raymond James Financial Inc. Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Raymond James Financial Inc. purchased a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,310 shares of the financial services provider's stock, valued at approximately $272,000.

Several other large investors have also added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in Alexander & Baldwin by 167.5% in the 4th quarter. Intech Investment Management LLC now owns 33,986 shares of the financial services provider's stock worth $603,000 after purchasing an additional 21,283 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after buying an additional 1,239 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider's stock worth $35,723,000 after buying an additional 43,333 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Alexander & Baldwin by 32.8% during the fourth quarter. Prudential Financial Inc. now owns 99,997 shares of the financial services provider's stock worth $1,774,000 after acquiring an additional 24,700 shares during the last quarter. Finally, Norges Bank purchased a new position in Alexander & Baldwin during the fourth quarter valued at $5,236,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ALEX shares. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th.

Alexander & Baldwin Price Performance

Shares of NYSE:ALEX traded down $0.22 on Wednesday, reaching $17.35. The company's stock had a trading volume of 326,221 shares, compared to its average volume of 388,371. The company has a 50-day simple moving average of $17.08 and a 200 day simple moving average of $17.90. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $1.26 billion, a P/E ratio of 27.98 and a beta of 0.99.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. As a group, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

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.