Franklin Resources Inc. reduced its stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,838,415 shares of the financial services provider's stock after selling 492,048 shares during the period. Franklin Resources Inc. owned approximately 3.91% of Alexander & Baldwin worth $50,353,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of ALEX. Smartleaf Asset Management LLC lifted its stake in Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,239 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock worth $39,000 after purchasing an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 572 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Alexander & Baldwin in the third quarter valued at approximately $79,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Alexander & Baldwin in the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 91.29% of the company's stock.
Alexander & Baldwin Stock Performance
Shares of NYSE:ALEX traded down $0.55 on Thursday, reaching $15.95. The company's stock had a trading volume of 211,841 shares, compared to its average volume of 364,561. Alexander & Baldwin, Inc. has a 52-week low of $14.64 and a 52-week high of $20.30. The stock has a market capitalization of $1.16 billion, a P/E ratio of 25.78 and a beta of 1.03. The stock's 50-day moving average is $17.54 and its two-hundred day moving average is $18.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.
Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. As a group, sell-side analysts forecast that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.
Alexander & Baldwin Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a $0.225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.64%. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio (DPR) is presently 107.14%.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on ALEX shares. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. StockNews.com lowered Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. Finally, Piper Sandler upped their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th.
View Our Latest Report on ALEX
Alexander & Baldwin Profile
(
Free Report)
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.
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