Envestnet Asset Management Inc. boosted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,268 shares of the financial services provider’s stock after buying an additional 3,665 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Alexander & Baldwin worth $1,617,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IndexIQ Advisors LLC lifted its stake in shares of Alexander & Baldwin by 7.3% in the 2nd quarter. IndexIQ Advisors LLC now owns 54,211 shares of the financial services provider’s stock valued at $993,000 after purchasing an additional 3,697 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lifted its stake in shares of Alexander & Baldwin by 15.5% in the 2nd quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 888,887 shares of the financial services provider’s stock valued at $16,284,000 after purchasing an additional 119,575 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Alexander & Baldwin by 47.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 25,103 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 8,100 shares during the period. Ceredex Value Advisors LLC acquired a new position in Alexander & Baldwin during the 2nd quarter worth approximately $3,895,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Alexander & Baldwin in the second quarter valued at approximately $203,000. 83.15% of the stock is currently owned by hedge funds and other institutional investors.
ALEX has been the subject of several research reports. Zacks Investment Research raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, August 3rd. Piper Sandler raised shares of Alexander & Baldwin from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $22.00 in a research report on Friday, July 30th.
Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, July 29th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.08. Alexander & Baldwin had a net margin of 8.32% and a return on equity of 2.43%. As a group, equities analysts anticipate that Alexander & Baldwin, Inc. will post 0.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 4th. Shareholders of record on Friday, September 17th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.35%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, September 16th. Alexander & Baldwin’s payout ratio is currently 94.74%.
Alexander & Baldwin Company Profile
Alexander & Baldwin, Inc engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management.
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