Amalgamated Bank Sells 1,884 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Amalgamated Bank lessened its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,337 shares of the financial services provider’s stock after selling 1,884 shares during the period. Amalgamated Bank’s holdings in Alexander & Baldwin were worth $501,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ALEX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Alexander & Baldwin by 12.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,668 shares of the financial services provider’s stock worth $530,000 after buying an additional 3,507 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alexander & Baldwin by 46.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 1,114 shares during the period. Teacher Retirement System of Texas grew its position in shares of Alexander & Baldwin by 23.9% in the third quarter. Teacher Retirement System of Texas now owns 108,664 shares of the financial services provider’s stock valued at $1,818,000 after purchasing an additional 20,932 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Alexander & Baldwin by 4.1% during the third quarter. Daiwa Securities Group Inc. now owns 23,241 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 909 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Alexander & Baldwin by 6.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 47,668 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 2,806 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Down 0.8 %

ALEX stock opened at $17.00 on Monday. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $19.99. The business has a 50-day simple moving average of $16.31 and a 200 day simple moving average of $17.05. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.23 billion, a PE ratio of 27.87 and a beta of 1.21.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $61.20 million during the quarter, compared to the consensus estimate of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same quarter in the prior year, the firm posted $0.29 EPS. Sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.14 EPS for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 14th will be paid a $0.222 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 annualized dividend and a dividend yield of 5.22%. Alexander & Baldwin’s payout ratio is 145.90%.

Analyst Ratings Changes

ALEX has been the subject of a number of research reports. TheStreet downgraded Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Piper Sandler dropped their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.50.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.