Bank of New York Mellon Corp Sells 55,513 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Bank of New York Mellon Corp lowered its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,527 shares of the financial services provider’s stock after selling 55,513 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of Alexander & Baldwin worth $11,629,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,034 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in 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 period. KBC Group NV raised its position in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,338 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Alexander & Baldwin in the 3rd quarter worth $79,000. Finally, Point72 Asset Management L.P. grew its position 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 buying an additional 2,363 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Down 1.8 %

ALEX opened at $17.60 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 28.38 and a beta of 1.27. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The stock has a fifty day moving average price of $17.75 and a 200-day moving average price of $18.58.

Alexander & Baldwin (NYSE:ALEX) last announced its 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 during 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%. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, March 14th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.12%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is 107.14%.

Analyst Upgrades and Downgrades

ALEX has been the subject of several recent research reports. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Piper Sandler boosted 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, February 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

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.