Rhumbline Advisers Has $4.14 Million Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Rhumbline Advisers cut its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 233,086 shares of the financial services provider’s stock after selling 1,164 shares during the quarter. Rhumbline Advisers’ holdings in Alexander & Baldwin were worth $4,135,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Alexander & Baldwin by 386.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after buying an additional 382,327 shares during the period. State Street Corp raised its holdings in Alexander & Baldwin by 9.4% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Alexander & Baldwin by 10.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after purchasing an additional 190,357 shares during the last quarter. Regency Capital Management Inc. DE raised its holdings in Alexander & Baldwin by 59.6% during the 4th quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock worth $7,641,000 after purchasing an additional 160,928 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alexander & Baldwin by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock worth $11,193,000 after purchasing an additional 140,207 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on ALEX shares. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Friday. Finally, 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 note on Friday.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $18.06 on Friday. The company has a fifty day moving average of $17.68 and a 200-day moving average of $18.65. 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 firm has a market capitalization of $1.31 billion, a P/E ratio of 29.12 and a beta of 1.29.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. As a group, sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

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