Victory Capital Management Inc. lessened its stake in Alexander & Baldwin, Inc. (NYSE:ALEX – Get Rating) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 793,022 shares of the financial services provider’s stock after selling 5,283 shares during the quarter. Victory Capital Management Inc. owned about 1.09% of Alexander & Baldwin worth $18,358,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Comerica Bank raised its stake in Alexander & Baldwin by 0.7% in the first quarter. Comerica Bank now owns 71,929 shares of the financial services provider’s stock valued at $1,659,000 after purchasing an additional 470 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Alexander & Baldwin by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 10,452 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 543 shares during the last quarter. Covestor Ltd bought a new position in Alexander & Baldwin in the fourth quarter valued at about $25,000. First Trust Advisors LP grew its position in Alexander & Baldwin by 7.8% in the fourth quarter. First Trust Advisors LP now owns 14,498 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 1,045 shares during the last quarter. Finally, Hanson & Doremus Investment Management bought a new position in Alexander & Baldwin in the first quarter valued at about $28,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Piper Sandler decreased their target price on Alexander & Baldwin to $22.00 in a research report on Monday, July 4th.
Alexander & Baldwin Stock Performance
Alexander & Baldwin (NYSE:ALEX – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.66. Alexander & Baldwin had a return on equity of 2.59% and a net margin of 6.88%. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, analysts expect that Alexander & Baldwin, Inc. will post 1.08 earnings per share for the current fiscal year.
Alexander & Baldwin Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.22 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Friday, September 16th. Alexander & Baldwin’s payout ratio is 222.23%.
Alexander & Baldwin Company Profile
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.
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