Y Intercept Hong Kong Ltd Purchases New Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,160 shares of the financial services provider’s stock, valued at approximately $588,000.

Several other large investors have also recently bought and sold shares of ALEX. Creative Planning acquired a new position in Alexander & Baldwin during the third quarter valued at approximately $216,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 111,392 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Alexander & Baldwin by 12.3% in the third quarter. Van ECK Associates Corp now owns 12,510 shares of the financial services provider’s stock valued at $229,000 after buying an additional 1,374 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Alexander & Baldwin by 14.6% in the third quarter. Asset Management One Co. Ltd. now owns 194,942 shares of the financial services provider’s stock valued at $3,743,000 after buying an additional 24,773 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALEX. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler raised their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX opened at $18.06 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of 29.12 and a beta of 1.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The business’s 50 day moving average is $17.69 and its 200-day moving average is $18.64.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Equities research analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.98%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is 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.