Aigen Investment Management LP Purchases New Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

Aigen Investment Management LP acquired a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 12,783 shares of the financial services provider’s stock, valued at approximately $227,000.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. Kestra Private Wealth Services LLC raised its position in Alexander & Baldwin by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 648 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Alexander & Baldwin by 5.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 683 shares in the last quarter. CKW Financial Group lifted its stake in Alexander & Baldwin by 5.8% during the third quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 924 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares in the last quarter. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Stock Up 1.8 %

Shares of NYSE:ALEX opened at $18.07 on Monday. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a market capitalization of $1.31 billion, a PE ratio of 29.14 and a beta of 1.27. 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 fifty day moving average of $17.72 and a 200-day moving average of $18.60.

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 analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. On average, equities analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, March 14th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is 107.14%.

Wall Street Analysts Forecast Growth

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

Alexander & Baldwin 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.