ExodusPoint Capital Management LP Sells 89,713 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

ExodusPoint Capital Management LP cut its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 75.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,700 shares of the financial services provider's stock after selling 89,713 shares during the period. ExodusPoint Capital Management LP's holdings in Alexander & Baldwin were worth $527,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after buying an additional 1,239 shares during the last quarter. Versant Capital Management Inc grew its holdings in Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock worth $39,000 after acquiring an additional 1,034 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Alexander & Baldwin in the 4th quarter worth about $112,000. Point72 Asset Management L.P. lifted its stake in shares of Alexander & Baldwin by 35.1% in the 3rd 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. Finally, Aigen Investment Management LP bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at about $227,000. 91.29% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler boosted their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Finally, JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

Alexander & Baldwin Stock Up 0.0 %

NYSE:ALEX traded up $0.01 on Tuesday, hitting $16.62. The stock had a trading volume of 294,295 shares, compared to its average volume of 373,944. The company has a market cap of $1.21 billion, a PE ratio of 26.80 and a beta of 1.03. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The business's fifty day moving average is $17.44 and its 200 day moving average is $18.13. 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 (NYSE:ALEX - Get Free Report) 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. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. On average, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

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

About Alexander & Baldwin

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.