Vanguard Group Inc. Has $221.65 Million Stake in Alexander & Baldwin, Inc. (NYSE:ALEX)

Vanguard Group Inc. reduced its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,653,433 shares of the financial services provider’s stock after selling 153,514 shares during the quarter. Vanguard Group Inc. owned 16.05% of Alexander & Baldwin worth $221,648,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,240 shares during the last quarter. Quadrant Capital Group LLC raised its position in Alexander & Baldwin by 171.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,232 shares during the last quarter. Van ECK Associates Corp raised its position in Alexander & Baldwin by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 1,672 shares during the last quarter. Everett Harris & Co. CA acquired a new position in Alexander & Baldwin in the fourth quarter worth $195,000. Finally, Duality Advisers LP bought a new stake in shares of Alexander & Baldwin during the fourth quarter worth $199,000. 91.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target on Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.50.

Alexander & Baldwin Stock Down 0.7 %

NYSE:ALEX opened at $16.84 on Tuesday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 27.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.38 and a current ratio of 0.38. The stock’s fifty day moving average price is $16.59 and its two-hundred day moving average price is $16.99. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $19.99.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $51.55 million. Alexander & Baldwin had a return on equity of 4.76% and a net margin of 20.25%. During the same quarter last year, the business earned $0.29 earnings per share. On average, analysts anticipate that Alexander & Baldwin, Inc. will post 1.15 EPS for the current 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 given a dividend of $0.222 per share. This represents a $0.89 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Friday, June 14th. Alexander & Baldwin’s dividend payout ratio is 145.90%.

Alexander & Baldwin Company Profile

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.