Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 82,677 Alexander & Baldwin, Inc. (NYSE:ALEX)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 82,677 shares of the financial services provider’s stock, valued at approximately $1,467,000.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,239 shares during the period. Versant Capital Management Inc grew its stake in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,034 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. KBC Group NV raised its stake in Alexander & Baldwin by 53.6% during the 3rd quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Alexander & Baldwin in the 3rd quarter valued at $79,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $17.38 on Thursday. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.26 billion, a P/E ratio of 28.02 and a beta of 1.27. The company’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $18.51.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share 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 company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. As a group, research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, March 14th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.18%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 107.14%.

Analyst Upgrades and Downgrades

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

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.