Alexander & Baldwin, Inc. (NYSE:ALEX) Short Interest Up 21.2% in March

Alexander & Baldwin, Inc. (NYSE:ALEX) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 791,800 shares, an increase of 21.2% from the February 28th total of 653,500 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 431,100 shares, the days-to-cover ratio is currently 1.8 days.

Alexander & Baldwin Stock Performance

NYSE:ALEX traded up $0.03 during mid-day trading on Wednesday, hitting $17.55. 247,913 shares of the stock were exchanged, compared to its average volume of 350,762. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The firm’s 50-day simple moving average is $17.72 and its 200 day simple moving average is $18.36. Alexander & Baldwin has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.31 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS 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 analysts’ expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. As a group, equities analysts anticipate that Alexander & Baldwin will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.225 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.13%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 107.14%.

Wall Street Analyst Weigh In

ALEX has been the topic of several analyst reports. StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Hedge Funds Weigh In On Alexander & Baldwin

Several large investors have recently bought and sold shares of ALEX. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 572 shares during the last quarter. Bank of Montreal Can grew its holdings in Alexander & Baldwin by 2.3% in the fourth quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 615 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of Alexander & Baldwin by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after buying an additional 648 shares during the period. American Century Companies Inc. lifted its holdings in shares of Alexander & Baldwin by 3.4% in the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 797 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its stake in Alexander & Baldwin by 4.4% during the 4th quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 879 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

About Alexander & Baldwin

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.