Reinhart Partners LLC. Sells 84,097 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Reinhart Partners LLC. decreased its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,469,815 shares of the financial services provider’s stock after selling 84,097 shares during the period. Alexander & Baldwin accounts for about 1.7% of Reinhart Partners LLC.’s portfolio, making the stock its 25th biggest holding. Reinhart Partners LLC. owned approximately 3.40% of Alexander & Baldwin worth $43,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock worth $29,000 after buying an additional 759 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock worth $54,000 after buying an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted 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 buying an additional 572 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after buying an additional 1,338 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALEX. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Alexander & Baldwin Stock Down 0.1 %

Shares of ALEX traded down $0.02 during mid-day trading on Monday, hitting $17.02. The company’s stock had a trading volume of 119,421 shares, compared to its average volume of 257,919. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 27.45 and a beta of 1.29. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company’s 50-day moving average is $18.72 and its 200-day moving average is $18.73. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Announces Dividend

The company also recently declared 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 of this dividend was Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.23%. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

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.