Wealthfront Advisers LLC Acquires New Shares in Alexander & Baldwin, Inc. (NYSE:ALEX)

Wealthfront Advisers LLC acquired a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,308 shares of the financial services provider’s stock, valued at approximately $112,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in 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 valued at $82,033,000 after purchasing an additional 363,223 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock valued at $35,723,000 after purchasing an additional 43,333 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 23,441 shares during the last quarter. Victory Capital Management Inc. increased its holdings 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 valued at $18,536,000 after purchasing an additional 29,006 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after purchasing an additional 140,207 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 0.9 %

Shares of Alexander & Baldwin stock opened at $17.63 on Tuesday. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The business has a 50-day moving average of $17.75 and a two-hundred day moving average of $18.53. The company has a market capitalization of $1.28 billion, a P/E ratio of 28.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. As a group, equities analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS 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 given a dividend of $0.225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 107.14%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler increased 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.

About Alexander & Baldwin

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.