36,661 Shares in Alexander & Baldwin, Inc. (NYSE:ALEX) Bought by Zacks Investment Management

Zacks Investment Management purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,661 shares of the financial services provider's stock, valued at approximately $650,000. Zacks Investment Management owned approximately 0.05% of Alexander & Baldwin as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Alexander & Baldwin by 2.3% in the fourth quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider's stock worth $490,000 after acquiring an additional 615 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Alexander & Baldwin by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider's stock valued at $596,000 after buying an additional 648 shares in the last quarter. American Century Companies Inc. increased its position in shares of Alexander & Baldwin by 3.4% during the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider's stock worth $429,000 after acquiring an additional 797 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in shares of Alexander & Baldwin by 4.4% during the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider's stock worth $371,000 after acquiring an additional 879 shares during the period. Finally, Versant Capital Management Inc lifted 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 acquiring an additional 1,034 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

Shares of ALEX traded down $0.21 during midday trading on Wednesday, reaching $16.61. 571,236 shares of the stock were exchanged, compared to its average volume of 376,072. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock's 50 day simple moving average is $17.29 and its 200 day simple moving average is $18.05. Alexander & Baldwin, Inc. has a twelve month low of $15.70 and a twelve month high of $20.30. The company has a market cap of $1.21 billion, a P/E ratio of 26.79 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping 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 business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.225 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.42%. This is a positive change from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio (DPR) is currently 107.14%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler increased their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. StockNews.com lowered Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

About Alexander & Baldwin

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.