Harbor Capital Advisors Inc. Sells 135,729 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Harbor Capital Advisors Inc. lowered its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 59.4% in the first quarter, Holdings Channel reports. The firm owned 92,738 shares of the financial services provider’s stock after selling 135,729 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Alexander & Baldwin were worth $1,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Alexander & Baldwin by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock valued at $35,723,000 after acquiring an additional 43,333 shares during the period. Northern Trust Corp raised its stake in Alexander & Baldwin by 23.5% in the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock worth $18,110,000 after purchasing an additional 194,534 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after purchasing an additional 297,044 shares in the last quarter. Clearbridge Investments LLC raised its stake in Alexander & Baldwin by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 614,940 shares of the financial services provider’s stock worth $10,909,000 after purchasing an additional 3,210 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alexander & Baldwin by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 499,565 shares of the financial services provider’s stock worth $8,862,000 after purchasing an additional 18,312 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. 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 report on Friday, February 28th.

Alexander & Baldwin Price Performance

ALEX stock opened at $18.19 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 12 month low of $15.70 and a 12 month high of $20.30. The firm has a market cap of $1.32 billion, a P/E ratio of 29.34 and a beta of 1.03. The company’s 50-day moving average price is $17.28 and its two-hundred day moving average price is $17.69.

Alexander & Baldwin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin’s dividend payout ratio is currently 105.88%.

Alexander & Baldwin Company 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.