Reinhart Partners LLC. trimmed its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,469,815 shares of the financial services provider's stock after selling 84,097 shares during the period. Alexander & Baldwin makes up about 1.7% of Reinhart Partners LLC.'s holdings, making the stock its 25th largest holding. Reinhart Partners LLC. owned about 3.40% of Alexander & Baldwin worth $43,815,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock worth $29,000 after acquiring an additional 759 shares during the period. Versant Capital Management Inc raised its position 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 purchasing an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Alexander & Baldwin by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after buying an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after buying an additional 572 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Alexander & Baldwin by 53.6% during the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock worth $74,000 after buying an additional 1,338 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ALEX has been the topic of a number of recent analyst reports. StockNews.com raised shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.50.
Check Out Our Latest Stock Analysis on ALEX
Alexander & Baldwin Stock Performance
Shares of ALEX traded up $0.14 during mid-day trading on Monday, reaching $17.18. 341,459 shares of the company's stock were exchanged, compared to its average volume of 291,808. The business's fifty day simple moving average is $18.72 and its 200-day simple moving average is $18.73. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The stock has a market capitalization of $1.25 billion, a PE ratio of 27.71 and a beta of 1.29. 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a dividend of $0.2225 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.18%. Alexander & Baldwin's dividend payout ratio (DPR) is currently 145.16%.
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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