Handelsbanken Fonder AB Has $384,000 Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Handelsbanken Fonder AB lifted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,303 shares of the financial services provider’s stock after acquiring an additional 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Alexander & Baldwin were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Balyasny Asset Management L.P. bought a new position in Alexander & Baldwin during the fourth quarter worth about $7,722,000. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 297,044 shares during the period. Norges Bank bought a new position in Alexander & Baldwin during the fourth quarter worth about $5,236,000. Bank of America Corp DE grew its holdings in Alexander & Baldwin by 321.2% during the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider’s stock worth $6,302,000 after purchasing an additional 270,907 shares during the period. Finally, Northern Trust Corp grew its holdings in Alexander & Baldwin by 23.5% during the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock worth $18,110,000 after purchasing an additional 194,534 shares during the period. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

ALEX has been the subject of a number of research analyst reports. Wall Street Zen cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler boosted their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th.

Alexander & Baldwin Stock Down 2.0%

Shares of NYSE:ALEX opened at $17.84 on Monday. The company has a fifty day moving average of $17.31 and a 200-day moving average of $17.65. The company has a market capitalization of $1.30 billion, a PE ratio of 28.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30.

Alexander & Baldwin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be issued a $0.225 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a yield of 5.04%. Alexander & Baldwin’s payout ratio is 105.88%.

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.