Alexander & Baldwin, Inc. (NYSE:ALEX) Stake Lifted by Clearbridge Investments LLC

Clearbridge Investments LLC increased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 614,940 shares of the financial services provider’s stock after purchasing an additional 3,210 shares during the period. Clearbridge Investments LLC owned 0.85% of Alexander & Baldwin worth $10,909,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,239 shares in the last quarter. Versant Capital Management Inc grew its holdings in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,034 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. Point72 DIFC Ltd bought a new stake in Alexander & Baldwin in the third quarter worth about $79,000. Finally, Wealthfront Advisers LLC acquired a new stake in Alexander & Baldwin in the 4th quarter valued at about $112,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALEX has been the topic of a number of research reports. 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. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

ALEX stock opened at $17.58 on Thursday. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30. The firm has a 50-day moving average of $17.72 and a two-hundred day moving average of $18.36. The firm has a market capitalization of $1.28 billion, a PE ratio of 28.36 and a beta of 1.27. 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 issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 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. On average, analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Friday, March 14th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is 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.