Vanguard Group Inc. decreased its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,477,168 shares of the financial services provider's stock after selling 33,754 shares during the period. Vanguard Group Inc. owned approximately 15.80% of Alexander & Baldwin worth $203,605,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Jane Street Group LLC grew its position in Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider's stock valued at $1,817,000 after acquiring an additional 35,916 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Alexander & Baldwin during the third quarter worth approximately $1,151,000. Intech Investment Management LLC grew its position in shares of Alexander & Baldwin by 167.5% during the fourth quarter. Intech Investment Management LLC now owns 33,986 shares of the financial services provider's stock worth $603,000 after buying an additional 21,283 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after buying an additional 1,239 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider's stock worth $36,032,000 after buying an additional 23,441 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Finally, Piper Sandler raised their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th.
Read Our Latest Stock Report on Alexander & Baldwin
Alexander & Baldwin Stock Performance
ALEX stock traded down $0.27 during trading on Thursday, hitting $16.22. 104,001 shares of the company's stock traded hands, compared to its average volume of 364,262. 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, Inc. has a 52 week low of $14.64 and a 52 week high of $20.30. The stock has a fifty day moving average price of $17.54 and a two-hundred day moving average price of $18.21. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.16 and a beta of 1.03.
Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share 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 firm had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. As a group, equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.
Alexander & Baldwin Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a dividend of $0.225 per share. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 5.55%. Alexander & Baldwin's payout ratio is 107.14%.
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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