Proficio Capital Partners LLC acquired a new position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,736 shares of the financial services provider's stock, valued at approximately $421,000.
A number of other hedge funds have also recently made changes to their positions in ALEX. Charles Schwab Investment Management Inc. grew its position in Alexander & Baldwin by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider's stock valued at $37,832,000 after acquiring an additional 190,357 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Alexander & Baldwin by 48.5% in the third quarter. Cerity Partners LLC now owns 21,882 shares of the financial services provider's stock valued at $420,000 after purchasing an additional 7,142 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Alexander & Baldwin by 8.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 24,318 shares of the financial services provider's stock worth $467,000 after buying an additional 1,845 shares during the period. Quantbot Technologies LP lifted its holdings in Alexander & Baldwin by 14.8% during the 3rd quarter. Quantbot Technologies LP now owns 12,813 shares of the financial services provider's stock worth $246,000 after buying an additional 1,654 shares in the last quarter. Finally, FMR LLC boosted its position in Alexander & Baldwin by 153.9% in the 3rd quarter. FMR LLC now owns 16,080 shares of the financial services provider's stock valued at $309,000 after buying an additional 9,746 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on ALEX shares. Piper Sandler upped their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, StockNews.com cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th.
Read Our Latest Stock Report on Alexander & Baldwin
Alexander & Baldwin Stock Down 0.5 %
Shares of NYSE:ALEX traded down $0.09 on Friday, hitting $17.15. 297,334 shares of the company's stock were exchanged, compared to its average volume of 350,323. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The company has a market capitalization of $1.25 billion, a PE ratio of 27.67 and a beta of 1.27. The firm's 50-day moving average is $17.74 and its 200 day moving average is $18.42.
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 the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.
Alexander & Baldwin Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.225 dividend. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 5.25%. Alexander & Baldwin's dividend payout ratio (DPR) is 107.14%.
Alexander & Baldwin Company Profile
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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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