Balyasny Asset Management L.P. Acquires Shares of 435,291 Alexander & Baldwin, Inc. (NYSE:ALEX)

Balyasny Asset Management L.P. purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, Holdings Channel reports. The firm purchased 435,291 shares of the financial services provider’s stock, valued at approximately $7,722,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALEX. Smartleaf Asset Management LLC increased 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 acquiring an additional 1,239 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Alexander & Baldwin in the 4th quarter valued at approximately $112,000. XTX Topco Ltd acquired a new stake in shares of Alexander & Baldwin during the 4th quarter worth approximately $206,000. Aigen Investment Management LP purchased a new stake in shares of Alexander & Baldwin during the 4th quarter valued at approximately $227,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Alexander & Baldwin by 138.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 7,653 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ALEX. Piper Sandler lifted their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th.

Alexander & Baldwin Trading Up 1.2 %

Shares of NYSE ALEX opened at $17.54 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 stock has a market capitalization of $1.28 billion, a PE ratio of 28.29 and a beta of 0.99. Alexander & Baldwin, Inc. has a twelve month low of $15.70 and a twelve month high of $20.30. The stock has a fifty day simple moving average of $17.09 and a 200-day simple moving average of $17.92.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, equities analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a yield of 5.13%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 105.88%.

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.