Nomura Asset Management Co. Ltd. Buys 4,700 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Nomura Asset Management Co. Ltd. grew its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.3% during the fourth quarter, Holdings Channel reports. 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.’s holdings in Alexander & Baldwin were worth $1,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake 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 worth $29,000 after acquiring an additional 1,239 shares during the period. Versant Capital Management Inc increased 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 purchasing an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased 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 purchasing an additional 572 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Alexander & Baldwin during the 3rd quarter valued at $79,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Alexander & Baldwin during the 4th quarter valued at $112,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Up 0.3 %

ALEX opened at $17.58 on Thursday. The company has a market capitalization of $1.28 billion, a PE ratio of 28.36 and a beta of 1.27. The firm has a 50-day simple moving average of $17.72 and a two-hundred day simple moving average of $18.36. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30.

Alexander & Baldwin (NYSE:ALEX) 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. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

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

Analyst Upgrades and Downgrades

ALEX has been the topic of a number of recent analyst reports. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, 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.

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.