Nisa Investment Advisors LLC reduced its stake in Alexander & Baldwin, Inc. (NYSE:ALEX – Free Report) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,302 shares of the financial services provider’s stock after selling 1,129 shares during the period. Nisa Investment Advisors LLC owned approximately 0.05% of Alexander & Baldwin worth $707,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALEX. American Century Companies Inc. raised its holdings in Alexander & Baldwin by 9.4% in the second quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 2,014 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Alexander & Baldwin by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 57,743 shares of the financial services provider’s stock valued at $979,000 after buying an additional 9,730 shares in the last quarter. Sei Investments Co. boosted its holdings in Alexander & Baldwin by 6.7% in the second quarter. Sei Investments Co. now owns 34,792 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 2,179 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Alexander & Baldwin during the 2nd quarter worth $219,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Alexander & Baldwin by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 38,563 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 1,938 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ALEX has been the subject of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin has an average rating of “Moderate Buy” and an average price target of $22.50.
Alexander & Baldwin Stock Performance
ALEX opened at $17.94 on Wednesday. The stock’s 50 day simple moving average is $18.28 and its 200 day simple moving average is $18.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $1.30 billion, a P/E ratio of 28.93 and a beta of 1.29. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30.
Alexander & Baldwin Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $0.2225 per share. The ex-dividend date was Friday, December 20th. This represents a $0.89 annualized dividend and a dividend yield of 4.96%. Alexander & Baldwin’s dividend payout ratio is currently 145.16%.
Alexander & Baldwin Company 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.
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