Zurcher Kantonalbank Zurich Cantonalbank Buys 15,841 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 48.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,761 shares of the financial services provider’s stock after acquiring an additional 15,841 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alexander & Baldwin were worth $865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alexander & Baldwin by 386.5% during the third 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 purchasing an additional 382,327 shares during the last quarter. State Street Corp boosted its stake in shares of 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 buying an additional 363,223 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Alexander & Baldwin by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock valued at $37,832,000 after acquiring an additional 190,357 shares in the last quarter. Regency Capital Management Inc. DE increased its position in shares of Alexander & Baldwin by 59.6% in 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 last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Alexander & Baldwin by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock worth $11,193,000 after acquiring an additional 140,207 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ALEX shares. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Piper Sandler boosted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX opened at $17.35 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.26 billion, a P/E ratio of 27.98 and a beta of 1.27. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The stock has a 50 day moving average of $17.75 and a 200-day moving average of $18.50.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The firm had revenue of $62.45 million during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, equities research analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a $0.225 dividend. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 107.14%.

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.