Sei Investments Co. Buys 2,179 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Sei Investments Co. increased its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,792 shares of the financial services provider’s stock after purchasing an additional 2,179 shares during the quarter. Sei Investments Co.’s holdings in Alexander & Baldwin were worth $590,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Private Management Group Inc. purchased a new position in Alexander & Baldwin during the first quarter worth $2,289,000. Clearbridge Investments LLC grew its holdings in Alexander & Baldwin by 24.4% during the 1st quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in Alexander & Baldwin in the 2nd quarter worth about $948,000. BNP Paribas Financial Markets lifted its stake in Alexander & Baldwin by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock worth $772,000 after purchasing an additional 7,383 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Alexander & Baldwin by 42.9% during the first quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider’s stock valued at $240,000 after buying an additional 4,366 shares during the period. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $18.49 on Wednesday. The stock has a market capitalization of $1.34 billion, a PE ratio of 30.30 and a beta of 1.26. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.53 and a current ratio of 0.53. The company has a 50 day moving average price of $19.27 and a 200-day moving average price of $17.64.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 20th were paid a dividend of $0.2225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Friday, September 20th. Alexander & Baldwin’s dividend payout ratio is 145.90%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALEX shares. Alliance Global Partners initiated coverage on Alexander & Baldwin in a report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price target on the stock. Piper Sandler upgraded Alexander & Baldwin from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $22.00 in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Alexander & Baldwin has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.