Charles Schwab Investment Management Inc. Acquires 60,119 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Charles Schwab Investment Management Inc. grew its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,461,071 shares of the financial services provider’s stock after acquiring an additional 60,119 shares during the period. Charles Schwab Investment Management Inc. owned about 2.01% of Alexander & Baldwin worth $27,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ALEX. M&T Bank Corp bought a new stake in Alexander & Baldwin during the 4th quarter worth approximately $284,000. Summit Global Investments purchased a new stake in shares of Alexander & Baldwin in the fourth quarter worth $678,000. Natixis Advisors L.P. bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at $278,000. Victory Capital Management Inc. lifted its stake in shares of Alexander & Baldwin by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 884,660 shares of the financial services provider’s stock valued at $16,826,000 after buying an additional 29,976 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its holdings in Alexander & Baldwin by 13.8% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 282,180 shares of the financial services provider’s stock worth $5,367,000 after buying an additional 34,325 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Performance

ALEX opened at $16.75 on Thursday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.46 and a beta of 1.21. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $19.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.38 and a current ratio of 0.38. The company has a fifty day moving average of $16.32 and a 200 day moving average of $17.05.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $61.20 million during the quarter, compared to analyst estimates of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same quarter last year, the business posted $0.29 earnings per share. As a group, sell-side analysts forecast that Alexander & Baldwin, Inc. will post 1.14 earnings per share for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be paid a $0.222 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Friday, June 14th. Alexander & Baldwin’s payout ratio is 145.90%.

Analysts Set New Price Targets

ALEX has been the topic of a number of recent analyst reports. TheStreet cut Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Piper Sandler decreased their target price on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Alexander & Baldwin presently has an average rating of “Hold” and a consensus price target of $18.50.

Alexander & Baldwin Company Profile

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 lease assets.