Rhumbline Advisers Lowers Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Rhumbline Advisers reduced its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,086 shares of the financial services provider’s stock after selling 1,164 shares during the period. Rhumbline Advisers owned approximately 0.32% of Alexander & Baldwin worth $4,135,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after purchasing an additional 382,327 shares during the last quarter. State Street Corp boosted its holdings in Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Alexander & Baldwin by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after purchasing an additional 190,357 shares during the period. Regency Capital Management Inc. DE boosted its stake 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 during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alexander & Baldwin by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after buying an additional 140,207 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $18.06 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of 29.12 and a beta of 1.29. The company’s 50-day moving average is $17.68 and its 200-day moving average is $18.65. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Equities analysts forecast 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. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. 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 dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.16%.

Analysts Set New Price Targets

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

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.