Victory Capital Management Inc. Has $1.64 Million Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Victory Capital Management Inc. lessened its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 90.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,333 shares of the financial services provider’s stock after selling 873,102 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of Alexander & Baldwin worth $1,638,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALEX. Smartleaf Asset Management LLC boosted its stake in shares of Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,239 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Alexander & Baldwin by 19.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 572 shares during the last quarter. KBC Group NV boosted its stake in shares of Alexander & Baldwin by 53.6% in 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 during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Alexander & Baldwin in the 3rd quarter valued at about $79,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Down 1.0 %

Alexander & Baldwin stock opened at $17.47 on Wednesday. The company’s 50 day simple moving average is $17.75 and its 200 day simple moving average is $18.52. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.17 and a beta of 1.27. 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 data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping 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 business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, March 14th will be paid a $0.225 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.15%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is presently 107.14%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALEX. Piper Sandler raised their target price 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. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday.

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.