Charles Schwab Investment Management Inc. Grows Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Charles Schwab Investment Management Inc. raised its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,013,726 shares of the financial services provider’s stock after purchasing an additional 43,333 shares during the period. Charles Schwab Investment Management Inc. owned about 2.77% of Alexander & Baldwin worth $35,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Alexander & Baldwin by 2.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 648 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Alexander & Baldwin by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 683 shares during the last quarter. CKW Financial Group boosted its position in shares of Alexander & Baldwin by 5.8% in the third quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 924 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in 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 buying an additional 1,034 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Down 0.9 %

ALEX stock opened at $17.45 on Monday. 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, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The firm has a fifty day moving average price of $17.74 and a two-hundred day moving average price of $18.55. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 28.14 and a beta of 1.27.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $49.68 million. Research analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.225 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.90 annualized dividend and a yield of 5.16%. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Piper Sandler lifted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th.

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.