First Eagle Investment Management LLC Sells 53,000 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

First Eagle Investment Management LLC trimmed its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEXFree Report) by 23.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,213 shares of the financial services provider’s stock after selling 53,000 shares during the period. First Eagle Investment Management LLC owned 0.23% of Alexander & Baldwin worth $2,848,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALEX. American Century Companies Inc. grew its stake in shares of Alexander & Baldwin by 126.5% in the 1st quarter. American Century Companies Inc. now owns 37,890 shares of the financial services provider’s stock worth $879,000 after buying an additional 21,161 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Alexander & Baldwin by 25.8% in the 1st quarter. Citigroup Inc. now owns 115,180 shares of the financial services provider’s stock worth $2,671,000 after acquiring an additional 23,639 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Alexander & Baldwin by 38.2% in the 1st quarter. MetLife Investment Management LLC now owns 37,273 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 10,311 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Alexander & Baldwin by 0.5% in the 1st quarter. Rhumbline Advisers now owns 222,242 shares of the financial services provider’s stock worth $5,154,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Alexander & Baldwin by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,528 shares of the financial services provider’s stock worth $1,450,000 after acquiring an additional 7,710 shares during the last quarter. 84.93% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Trading Up 0.6 %

Shares of ALEX opened at $17.13 on Wednesday. Alexander & Baldwin, Inc. has a 1-year low of $15.56 and a 1-year high of $20.03. The company has a 50-day moving average of $18.02 and a 200 day moving average of $17.47. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -31.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Alexander & Baldwin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 8th. Stockholders of record on Friday, December 22nd were issued a $0.222 dividend. The ex-dividend date was Thursday, December 21st. This represents a $0.89 annualized dividend and a dividend yield of 5.19%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is currently -164.81%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several analyst reports. Janney Montgomery Scott initiated coverage on shares of Alexander & Baldwin in a report on Tuesday, December 12th. They issued a “buy” rating and a $20.00 target price for the company. TheStreet upgraded shares of Alexander & Baldwin from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, JMP Securities assumed coverage on shares of Alexander & Baldwin in a report on Wednesday, November 29th. They issued a “market perform” rating for the company.

View Our Latest Report on Alexander & Baldwin

About Alexander & Baldwin

(Free Report)

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground leases.

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Institutional Ownership by Quarter for Alexander & Baldwin (NYSE:ALEX)

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