Proficio Capital Partners LLC Purchases Shares of 23,736 Alexander & Baldwin, Inc. (NYSE:ALEX)

Proficio Capital Partners LLC purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 23,736 shares of the financial services provider’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its stake in 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 buying an additional 572 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Alexander & Baldwin by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after buying an additional 648 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Alexander & Baldwin by 5.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after buying an additional 683 shares during the last quarter. CKW Financial Group increased its stake in Alexander & Baldwin by 5.8% in the 3rd quarter. CKW Financial Group now owns 16,785 shares of the financial services provider’s stock valued at $320,000 after buying an additional 924 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in 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 buying an additional 1,034 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $18.36 on Tuesday. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $17.73 and a two-hundred day simple moving average of $18.59. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.61 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Analysts forecast 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 given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.90%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 107.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on ALEX. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler lifted their price objective 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. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Saturday.

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.