Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX – Get Rating) by 12.9% during the first quarter, HoldingsChannel reports. The fund owned 34,392 shares of the financial services provider’s stock after selling 5,088 shares during the period. Shell Asset Management Co.’s holdings in Alexander & Baldwin were worth $798,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Alexander & Baldwin by 12.1% in the fourth quarter. State Street Corp now owns 3,518,222 shares of the financial services provider’s stock valued at $88,897,000 after acquiring an additional 379,474 shares during the last quarter. Reinhart Partners Inc. lifted its holdings in Alexander & Baldwin by 1.7% in the first quarter. Reinhart Partners Inc. now owns 2,322,629 shares of the financial services provider’s stock valued at $53,862,000 after acquiring an additional 39,328 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alexander & Baldwin by 107.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,118,401 shares of the financial services provider’s stock valued at $53,151,000 after acquiring an additional 1,097,741 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Alexander & Baldwin by 0.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,267,757 shares of the financial services provider’s stock valued at $31,808,000 after acquiring an additional 7,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alexander & Baldwin by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,234,885 shares of the financial services provider’s stock valued at $30,984,000 after purchasing an additional 11,316 shares during the period. 87.23% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Up 2.0 %

Shares of NYSE ALEX opened at $19.91 on Monday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 40.63 and a beta of 1.30. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.49. Alexander & Baldwin, Inc. has a 52-week low of $17.05 and a 52-week high of $26.57. The business’s 50 day moving average is $18.75 and its two-hundred day moving average is $21.10.

Alexander & Baldwin (NYSE:ALEX – Get Rating) last announced its earnings results on Thursday, July 28th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.66. Alexander & Baldwin had a return on equity of 3.43% and a net margin of 9.08%. During the same period last year, the business earned $0.25 EPS. Research analysts predict that Alexander & Baldwin, Inc. will post -0.07 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Monday, September 19th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.42%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.20. Alexander & Baldwin’s dividend payout ratio is currently 163.27%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on Alexander & Baldwin to $22.00 in a research report on Monday, July 4th.

Alexander & Baldwin Profile

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Alexander & Baldwin, Inc ("A&B") is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases.