Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,955 shares of the financial services provider’s stock after buying an additional 4,752 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Alexander & Baldwin were worth $602,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALEX. Jane Street Group LLC increased its position in shares of Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after purchasing an additional 35,916 shares during the period. HighTower Advisors LLC bought a new stake in Alexander & Baldwin during the third quarter worth approximately $1,151,000. Victory Capital Management Inc. grew 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 last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $36,032,000 after buying an additional 23,441 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after acquiring an additional 111,392 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $18.06 on Monday. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $1.31 billion, a PE ratio of 29.12 and a beta of 1.29. The company’s 50 day moving average price is $17.69 and its 200 day moving average price is $18.64.

Alexander & Baldwin (NYSE:ALEX) last posted 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. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Research analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.98%. 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 payout ratio is presently 107.14%.

Analyst Ratings Changes

A number of research firms recently weighed in on ALEX. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Friday. 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

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.