Connor Clark & Lunn Investment Management Ltd. Takes Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 82,677 shares of the financial services provider's stock, valued at approximately $1,467,000. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of Alexander & Baldwin at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Wealthfront Advisers LLC acquired a new position in Alexander & Baldwin in the fourth quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alexander & Baldwin by 48.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,761 shares of the financial services provider's stock valued at $865,000 after acquiring an additional 15,841 shares in the last quarter. Amundi boosted its stake in Alexander & Baldwin by 43.6% in the fourth quarter. Amundi now owns 73,365 shares of the financial services provider's stock valued at $1,270,000 after acquiring an additional 22,287 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alexander & Baldwin in the fourth quarter valued at $272,000. Finally, Aigen Investment Management LP acquired a new position in Alexander & Baldwin in the fourth quarter valued at $227,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analyst Weigh In

ALEX has been the subject of several research analyst reports. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, Piper Sandler increased their target price 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.

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Alexander & Baldwin Stock Performance

Shares of ALEX traded down $0.24 during mid-day trading on Friday, hitting $17.11. 1,085,312 shares of the company's stock were exchanged, compared to its average volume of 329,097. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm has a market capitalization of $1.24 billion, a P/E ratio of 27.59 and a beta of 1.27. The business's 50 day moving average is $17.75 and its two-hundred day moving average is $18.47. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm had revenue of $62.45 million during the quarter, compared to analysts' expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, equities analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio is 107.14%.

Alexander & Baldwin Company 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.