Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,653,433 shares of the financial services provider's stock after selling 153,514 shares during the quarter. Vanguard Group Inc. owned 16.05% of Alexander & Baldwin worth $221,648,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ALEX. Federated Hermes Inc. boosted its stake in Alexander & Baldwin by 88.5% in the 4th quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider's stock worth $50,000 after purchasing an additional 1,240 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Alexander & Baldwin by 171.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider's stock valued at $67,000 after buying an additional 2,232 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Alexander & Baldwin by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider's stock valued at $193,000 after buying an additional 1,672 shares during the last quarter. Everett Harris & Co. CA acquired a new position in shares of Alexander & Baldwin in the 4th quarter valued at $195,000. Finally, Duality Advisers LP purchased a new position in Alexander & Baldwin in the 4th quarter worth $199,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

Shares of ALEX stock traded up $0.07 during trading hours on Tuesday, hitting $16.90. The company's stock had a trading volume of 309,677 shares, compared to its average volume of 309,370. The stock has a market cap of $1.23 billion, a PE ratio of 27.70 and a beta of 1.26. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $19.99. The company has a 50 day moving average of $16.60 and a 200 day moving average of $16.98. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.45.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $61.20 million for the quarter, compared to analyst estimates of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same period in the prior year, the company earned $0.29 earnings per share. On average, sell-side analysts forecast that Alexander & Baldwin, Inc. will post 1.15 EPS for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 14th will be given a dividend of $0.222 per share. This represents a $0.89 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin's dividend payout ratio is currently 145.90%.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on Alexander & Baldwin from $19.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Alexander & Baldwin currently has an average rating of "Hold" and an average target price of $18.50.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc NYSE: ALEX (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.