Y Intercept Hong Kong Ltd Makes New $588,000 Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Y Intercept Hong Kong Ltd acquired a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,160 shares of the financial services provider's stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc lifted 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 valued at $39,000 after acquiring an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock worth $54,000 after purchasing an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in 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 purchasing an additional 572 shares during the last quarter. KBC Group NV boosted its holdings in 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 purchasing an additional 1,338 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Alexander & Baldwin in the third quarter valued at $79,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

ALEX has been the subject of a number of recent research reports. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. 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 target on 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 Stock Performance

Shares of ALEX traded down $0.19 during midday trading on Wednesday, reaching $17.54. The stock had a trading volume of 746,367 shares, compared to its average volume of 320,732. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $17.70 and a 200-day simple moving average of $18.62. The firm has a market cap of $1.27 billion, a PE ratio of 28.29 and a beta of 1.29. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. As a group, sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently declared 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 represents a $0.90 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Friday, March 14th. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio is 107.14%.

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.