Prudential Financial Inc. lifted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,997 shares of the financial services provider's stock after acquiring an additional 24,700 shares during the period. Prudential Financial Inc. owned 0.14% of Alexander & Baldwin worth $1,774,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider's stock worth $9,240,000 after purchasing an additional 382,327 shares during the period. State Street Corp raised its position in shares of Alexander & Baldwin by 9.4% during the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider's stock valued at $82,033,000 after buying an additional 363,223 shares during the period. Regency Capital Management Inc. DE lifted its holdings in Alexander & Baldwin by 59.6% in the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider's stock valued at $7,641,000 after acquiring an additional 160,928 shares during the last quarter. JPMorgan Chase & Co. grew its position in Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider's stock worth $11,193,000 after acquiring an additional 140,207 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alexander & Baldwin in the fourth quarter worth approximately $1,467,000. Hedge funds and other institutional investors own 91.29% of the company's stock.
Alexander & Baldwin Trading Up 2.1 %
Shares of ALEX traded up $0.34 during midday trading on Wednesday, hitting $16.53. 1,850,645 shares of the stock were exchanged, compared to its average volume of 365,098. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a fifty day simple moving average of $17.59 and a 200 day simple moving average of $18.24. The firm has a market cap of $1.20 billion, a P/E ratio of 26.66 and a beta of 1.03.
Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its 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. The company had revenue of $62.45 million during the quarter, compared to analysts' expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.
Alexander & Baldwin Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were paid a dividend of $0.225 per share. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend was Friday, March 14th. Alexander & Baldwin's dividend payout ratio is presently 107.14%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on ALEX. StockNews.com lowered Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Finally, Piper Sandler boosted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th.
Get Our Latest Research Report on ALEX
About Alexander & Baldwin
(
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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