Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 655,527 shares of the financial services provider’s stock after selling 55,513 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alexander & Baldwin were worth $11,629,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALEX. Van ECK Associates Corp lifted its stake in Alexander & Baldwin by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,510 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 1,374 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Alexander & Baldwin during the third quarter worth approximately $561,000. Victory Capital Management Inc. lifted its position in Alexander & Baldwin by 3.1% during 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 in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Alexander & Baldwin by 5.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock worth $264,000 after buying an additional 683 shares during the last quarter. Finally, KBC Group NV grew its holdings in Alexander & Baldwin by 53.6% in the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after buying an additional 1,338 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALEX has been the topic of several analyst reports. Piper Sandler lifted their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Saturday, March 8th.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $17.60 on Friday. The stock has a fifty day simple moving average of $17.75 and a 200-day simple moving average of $18.58. The stock has a market cap of $1.28 billion, a PE ratio of 28.38 and a beta of 1.27. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. 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) last posted its earnings results 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. The firm 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%. Equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current 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 issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.12%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 107.14%.

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.