Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,333 shares of the financial services provider's stock after selling 873,102 shares during the period. Victory Capital Management Inc. owned about 0.13% of Alexander & Baldwin worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,239 shares during the period. Versant Capital Management Inc grew its stake 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 worth $39,000 after acquiring an additional 1,034 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider's stock worth $66,000 after acquiring an additional 572 shares during the period. KBC Group NV grew its stake in Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock worth $74,000 after acquiring an additional 1,338 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Alexander & Baldwin in the 3rd quarter worth approximately $79,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

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Alexander & Baldwin Stock Down 1.4 %

Shares of NYSE:ALEX traded down $0.24 during midday trading on Friday, hitting $17.11. 1,085,312 shares of the company's stock traded hands, compared to its average volume of 328,806. 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 company has a market cap of $1.24 billion, a PE ratio of 27.59 and a beta of 1.27. The firm's fifty day moving average price is $17.75 and its two-hundred day moving average price is $18.48. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted 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. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. On average, equities 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 will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.225 per share. This is a positive change 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 5.26%. Alexander & Baldwin's payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALEX. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. StockNews.com cut shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. Finally, Piper Sandler boosted their price objective 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.

Alexander & Baldwin Company Profile

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.