Mirae Asset Global Investments Co. Ltd. Trims Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 28.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,027 shares of the financial services provider’s stock after selling 791 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Alexander & Baldwin were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jane Street Group LLC increased its position in Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 35,916 shares during the period. HighTower Advisors LLC acquired a new stake in Alexander & Baldwin in the third quarter worth $1,151,000. Victory Capital Management Inc. increased its position in Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after buying an additional 29,006 shares during the period. Geode Capital Management LLC increased its position in Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after buying an additional 23,441 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Down 1.2 %

ALEX opened at $17.78 on Friday. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The business has a 50-day moving average of $17.86 and a 200-day moving average of $18.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $1.29 billion, a PE ratio of 28.67 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $0.2225 per share. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 5.01%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

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.