Russell Investments Group Ltd. Purchases 1,664 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Russell Investments Group Ltd. boosted its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,409 shares of the financial services provider’s stock after purchasing an additional 1,664 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Alexander & Baldwin worth $717,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Alexander & Baldwin Trading Up 1.1 %

NYSE:ALEX opened at $16.83 on Wednesday. Alexander & Baldwin, Inc. has a 12 month low of $15.70 and a 12 month high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $17.29 and its 200 day moving average is $18.05. The stock has a market capitalization of $1.22 billion, a PE ratio of 27.14 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. 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. Shareholders of record on Friday, March 14th were issued a dividend of $0.225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.35%. Alexander & Baldwin’s payout ratio is presently 107.14%.

Alexander & Baldwin 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.