Clearbridge Investments LLC Has $10.91 Million Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Clearbridge Investments LLC raised its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 614,940 shares of the financial services provider’s stock after purchasing an additional 3,210 shares during the quarter. Clearbridge Investments LLC’s holdings in Alexander & Baldwin were worth $10,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALEX. Smartleaf Asset Management LLC grew its holdings in shares of Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,239 shares in the last quarter. Versant Capital Management Inc boosted its position in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,034 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in 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 valued at $66,000 after purchasing an additional 572 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Alexander & Baldwin in the 3rd quarter worth about $79,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Alexander & Baldwin during the 4th quarter worth about $112,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALEX shares. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Piper Sandler increased their price target on shares of 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 reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

Alexander & Baldwin Stock Up 0.3 %

ALEX opened at $17.58 on Thursday. The firm has a market cap of $1.28 billion, a P/E ratio of 28.36 and a beta of 1.27. 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 business has a 50 day moving average price of $17.72 and a 200 day moving average price of $18.36. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. Research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change 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 5.12%. Alexander & Baldwin’s payout ratio is presently 107.14%.

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.