Illinois Municipal Retirement Fund Acquires 1,638 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Illinois Municipal Retirement Fund raised its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,760 shares of the financial services provider’s stock after purchasing an additional 1,638 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Alexander & Baldwin were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Los Angeles Capital Management LLC raised its position in shares of Alexander & Baldwin by 16.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 33,955 shares of the financial services provider’s stock valued at $602,000 after buying an additional 4,752 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Alexander & Baldwin during the fourth quarter valued at approximately $588,000. LDR Capital Management LLC raised its position in Alexander & Baldwin by 26.7% during the fourth quarter. LDR Capital Management LLC now owns 111,844 shares of the financial services provider’s stock valued at $1,984,000 after purchasing an additional 23,545 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Alexander & Baldwin by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 352,238 shares of the financial services provider’s stock valued at $6,249,000 after purchasing an additional 9,901 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Alexander & Baldwin by 5.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 116,654 shares of the financial services provider’s stock worth $2,069,000 after purchasing an additional 5,811 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX stock opened at $17.96 on Tuesday. The stock has a 50 day moving average price of $17.70 and a 200 day moving average price of $18.64. Alexander & Baldwin, Inc. has a 52-week low of $15.53 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 firm has a market capitalization of $1.30 billion, a P/E ratio of 28.97 and a beta of 1.29.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. The business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. As a group, sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.01%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s payout ratio is 107.14%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler lifted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday.

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.