Geode Capital Management LLC Trims Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Geode Capital Management LLC cut its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,852,782 shares of the financial services provider’s stock after selling 23,559 shares during the quarter. Geode Capital Management LLC owned about 2.55% of Alexander & Baldwin worth $32,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Alexander & Baldwin by 51.0% in the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after buying an additional 297,044 shares in the last quarter. Norges Bank purchased a new position in Alexander & Baldwin during the 4th quarter valued at about $5,236,000. Regency Capital Management Inc. DE increased its stake in shares of Alexander & Baldwin by 59.6% during the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock valued at $7,641,000 after buying an additional 160,928 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Alexander & Baldwin in the 4th quarter worth $1,467,000. Finally, Alliancebernstein L.P. lifted its holdings in Alexander & Baldwin by 85.7% in the fourth quarter. Alliancebernstein L.P. now owns 177,298 shares of the financial services provider’s stock worth $3,145,000 after buying an additional 81,811 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALEX shares. Piper Sandler lifted their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th.

Alexander & Baldwin Stock Up 0.1 %

Shares of NYSE ALEX opened at $16.63 on Thursday. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a 50 day moving average price of $17.38 and a 200 day moving average price of $18.11. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 26.82 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, March 14th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is 107.14%.

About Alexander & Baldwin

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.