Shell Asset Management Co. lessened its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX – Get Rating) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,392 shares of the financial services provider’s stock after selling 5,088 shares during the quarter. Shell Asset Management Co.’s holdings in Alexander & Baldwin were worth $798,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Alexander & Baldwin by 107.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,118,401 shares of the financial services provider’s stock worth $53,151,000 after purchasing an additional 1,097,741 shares in the last quarter. State Street Corp boosted its position in shares of Alexander & Baldwin by 12.1% in the 4th quarter. State Street Corp now owns 3,518,222 shares of the financial services provider’s stock worth $88,897,000 after purchasing an additional 379,474 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Alexander & Baldwin by 42.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 447,222 shares of the financial services provider’s stock worth $11,221,000 after purchasing an additional 134,360 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Alexander & Baldwin by 182.7% in the 1st quarter. Nordea Investment Management AB now owns 164,605 shares of the financial services provider’s stock worth $3,891,000 after purchasing an additional 106,383 shares in the last quarter. Finally, Yousif Capital Management LLC acquired a new stake in shares of Alexander & Baldwin in the 4th quarter worth $1,661,000. Institutional investors own 87.23% of the company’s stock.
Alexander & Baldwin Stock Performance
NYSE ALEX opened at $19.91 on Monday. The stock has a 50-day simple moving average of $18.75 and a two-hundred day simple moving average of $21.10. The firm has a market capitalization of $1.45 billion, a P/E ratio of 40.63 and a beta of 1.30. Alexander & Baldwin, Inc. has a fifty-two week low of $17.05 and a fifty-two week high of $26.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.78 and a current ratio of 0.78.
Alexander & Baldwin Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Monday, September 19th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, September 16th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.20. Alexander & Baldwin’s payout ratio is currently 163.27%.
Wall Street Analyst Weigh In
Separately, Piper Sandler lowered their price target on Alexander & Baldwin to $22.00 in a research report on Monday, July 4th.
Alexander & Baldwin Company Profile
Alexander & Baldwin, Inc ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases.
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