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ExodusPoint Capital Management LP cut its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX – Free Report) by 75.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,700 shares of the financial services provider’s stock after selling 89,713 shares during the period. ExodusPoint Capital Management LP’s holdings in Alexander & Baldwin were worth $527,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of ALEX. State Street Corp increased its stake in shares of Alexander & Baldwin by 9.4% in the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after purchasing an additional 363,223 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after buying an additional 297,044 shares during the period. Norges Bank purchased a new stake in Alexander & Baldwin in the 4th quarter worth $5,236,000. Regency Capital Management Inc. DE raised its holdings in Alexander & Baldwin by 59.6% during the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock valued at $7,641,000 after acquiring an additional 160,928 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alexander & Baldwin in the fourth quarter valued at about $1,467,000. Institutional investors own 91.29% of the company’s stock.
Alexander & Baldwin Price Performance
NYSE:ALEX opened at $16.24 on Friday. The business’s 50-day moving average is $17.47 and its 200 day moving average is $18.16. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The company has a market capitalization of $1.18 billion, a P/E ratio of 26.19 and a beta of 1.03. 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 (NYSE:ALEX – Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $49.68 million. On average, equities research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.
Alexander & Baldwin Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a $0.225 dividend. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Friday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 107.14%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.
View Our Latest Stock Analysis on ALEX
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.
See Also
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