JPMorgan Chase & Co. Purchases 297,044 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

JPMorgan Chase & Co. increased its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 51.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 880,018 shares of the financial services provider’s stock after buying an additional 297,044 shares during the period. JPMorgan Chase & Co. owned about 1.21% of Alexander & Baldwin worth $15,612,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its position in shares of Alexander & Baldwin by 9.4% in the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock valued at $82,033,000 after acquiring an additional 363,223 shares in the last quarter. Regency Capital Management Inc. DE lifted its holdings in Alexander & Baldwin by 59.6% in the 4th quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock worth $7,641,000 after purchasing an additional 160,928 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alexander & Baldwin in the 4th quarter worth approximately $1,467,000. HighTower Advisors LLC purchased a new stake in Alexander & Baldwin during the 3rd quarter valued at approximately $1,151,000. Finally, Barclays PLC raised its position in shares of Alexander & Baldwin by 25.4% during the third quarter. Barclays PLC now owns 251,868 shares of the financial services provider’s stock valued at $4,836,000 after buying an additional 51,027 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the subject of several research analyst reports. Piper Sandler raised their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Trading Up 1.5 %

Shares of ALEX opened at $16.24 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of 26.19 and a beta of 1.03. The company’s fifty day moving average is $17.47 and its 200 day moving average is $18.16. 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 fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a yield of 5.54%. Alexander & Baldwin’s dividend payout ratio is 107.14%.

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.