Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 83.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,088 shares of the financial services provider's stock after selling 262,229 shares during the period. Arrowstreet Capital Limited Partnership owned 0.07% of Alexander & Baldwin worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALEX. FMR LLC boosted its position in shares of Alexander & Baldwin by 153.9% during the 3rd quarter. FMR LLC now owns 16,080 shares of the financial services provider's stock worth $309,000 after purchasing an additional 9,746 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Alexander & Baldwin in the third quarter valued at $1,151,000. Point72 Asset Management L.P. boosted its holdings in Alexander & Baldwin by 35.1% in the third quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 2,363 shares during the period. State Street Corp grew its stake in Alexander & Baldwin by 9.4% during the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider's stock worth $82,033,000 after purchasing an additional 363,223 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider's stock worth $1,817,000 after purchasing an additional 35,916 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.

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Alexander & Baldwin Stock Up 0.0 %

Shares of NYSE ALEX traded up $0.01 on Tuesday, hitting $16.62. The company had a trading volume of 294,295 shares, compared to its average volume of 373,762. The firm has a market capitalization of $1.21 billion, a P/E ratio of 26.80 and a beta of 1.03. 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 12-month low of $15.53 and a 12-month high of $20.30. The business has a 50 day moving average of $17.44 and a two-hundred day moving average of $18.13.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating 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 net margin of 19.64% and a return on equity of 5.93%. As a group, equities research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were given a $0.225 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 5.42%. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's payout ratio is presently 107.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALEX. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. Piper Sandler upped 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, February 28th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

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.