Blackstone Inc. (NYSE:BX) is Kimelman & Baird LLC’s 6th Largest Position

Kimelman & Baird LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,103 shares of the asset manager’s stock after selling 7,314 shares during the period. Blackstone accounts for 4.4% of Kimelman & Baird LLC’s holdings, making the stock its 6th biggest position. Kimelman & Baird LLC’s holdings in Blackstone were worth $55,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Glen Eagle Advisors LLC raised its stake in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after acquiring an additional 59 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC boosted its holdings in shares of Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in shares of Blackstone by 6.5% in the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after buying an additional 62 shares in the last quarter. Finally, McAdam LLC boosted its holdings in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several research reports. Citigroup reiterated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. UBS Group reiterated a “neutral” rating on shares of Blackstone in a research report on Monday, March 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $172.38.

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of BX opened at $141.01 on Monday. The company has a market capitalization of $102.86 billion, a PE ratio of 38.85, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a 50-day simple moving average of $165.90 and a 200-day simple moving average of $167.21. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.