Smartleaf Asset Management LLC Acquires 1,239 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Smartleaf Asset Management LLC grew its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 284.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,675 shares of the financial services provider’s stock after buying an additional 1,239 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Alexander & Baldwin were worth $29,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALEX. Versant Capital Management Inc increased its stake in shares of Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,034 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Alexander & Baldwin by 19.9% during the 3rd 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. KBC Group NV increased its stake in shares of Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,338 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Alexander & Baldwin during the 3rd quarter worth about $79,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Alexander & Baldwin by 35.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 2,363 shares during the last quarter. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX opened at $17.93 on Thursday. The company’s 50 day moving average price is $17.75 and its two-hundred day moving average price is $18.58. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The firm has a market cap of $1.30 billion, a PE ratio of 28.91 and a beta of 1.27. 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 (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, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Equities research analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date is Friday, March 14th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Piper Sandler upped their price target 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

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.