Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 880,018 shares of the financial services provider's stock after buying an additional 297,044 shares during the period. JPMorgan Chase & Co. owned about 1.21% of Alexander & Baldwin worth $15,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC grew its holdings in shares of Alexander & Baldwin by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider's stock worth $596,000 after acquiring an additional 648 shares during the period. American Century Companies Inc. raised its stake in shares of Alexander & Baldwin by 3.4% during the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider's stock worth $429,000 after buying an additional 797 shares during the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Alexander & Baldwin by 4.4% in the 4th quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider's stock worth $371,000 after buying an additional 879 shares in the last quarter. Versant Capital Management Inc grew its stake in Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in Alexander & Baldwin by 5.1% during the 4th quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider's stock valued at $401,000 after acquiring an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALEX. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler boosted 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.

Alexander & Baldwin Trading Up 0.0 %

Shares of NYSE:ALEX traded up $0.01 during trading on Tuesday, reaching $16.62. The stock had a trading volume of 294,295 shares, compared to its average volume of 373,762. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The business has a fifty day moving average price of $17.44 and a 200-day moving average price of $18.13. The stock has a market cap 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 (NYSE:ALEX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. The company 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, analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

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