Vanguard Group Inc. Cuts Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Vanguard Group Inc. trimmed its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,477,168 shares of the financial services provider’s stock after selling 33,754 shares during the period. Vanguard Group Inc. owned approximately 0.16% of Alexander & Baldwin worth $203,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its holdings in shares of Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,239 shares during the last quarter. Versant Capital Management Inc lifted its position in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Alexander & Baldwin by 19.9% in 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. Point72 DIFC Ltd purchased a new stake in Alexander & Baldwin during the third quarter valued at $79,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Alexander & Baldwin during the 4th quarter valued at about $112,000. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX opened at $16.52 on Friday. The firm’s 50 day simple moving average is $17.70 and its 200-day simple moving average is $18.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30. The firm has a market cap of $1.20 billion, a PE ratio of 26.65 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $49.68 million. As a group, equities analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.45%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 107.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALEX. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler increased their price objective on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th.

Alexander & Baldwin 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.