Oppenheimer Asset Management Inc. Sells 3,367 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Oppenheimer Asset Management Inc. decreased its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,365 shares of the financial services provider’s stock after selling 3,367 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Alexander & Baldwin were worth $184,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its stake in Alexander & Baldwin by 9.4% in the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock valued at $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 valued at $37,832,000 after buying an additional 190,357 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 23,441 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after buying an additional 29,006 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock worth $11,193,000 after purchasing an additional 140,207 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ALEX. Piper Sandler boosted their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $18.07 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of 29.14 and a beta of 1.27. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The business’s fifty day moving average is $17.72 and its two-hundred day moving average is $18.61.

Alexander & Baldwin (NYSE:ALEX) last released 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 company had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Equities research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.98%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 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.