Nomura Asset Management Co. Ltd. Increases Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Nomura Asset Management Co. Ltd. boosted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,000 shares of the financial services provider’s stock after buying an additional 4,700 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.13% of Alexander & Baldwin worth $1,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,239 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after buying an additional 572 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Alexander & Baldwin during the third quarter valued at approximately $79,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Alexander & Baldwin during the fourth quarter valued at approximately $112,000. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.58 on Thursday. The firm has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $18.36. The firm has a market cap of $1.28 billion, a PE ratio of 28.36 and a beta of 1.27. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data 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. The company had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.12%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s payout ratio is 107.14%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research 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.