First Trust Advisors LP Purchases 6,050 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

First Trust Advisors LP raised its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 251,302 shares of the financial services provider’s stock after acquiring an additional 6,050 shares during the quarter. First Trust Advisors LP’s holdings in Alexander & Baldwin were worth $4,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after purchasing an additional 297,044 shares during the period. Norges Bank acquired a new stake in shares of Alexander & Baldwin during the 4th quarter valued at about $5,236,000. Regency Capital Management Inc. DE increased its position in shares of Alexander & Baldwin by 59.6% in the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock valued at $7,641,000 after buying an additional 160,928 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alexander & Baldwin during the fourth quarter valued at $1,467,000. Finally, Alliancebernstein L.P. boosted its holdings in Alexander & Baldwin by 85.7% in the 4th quarter. Alliancebernstein L.P. now owns 177,298 shares of the financial services provider’s stock worth $3,145,000 after buying an additional 81,811 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler lifted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.35 on Friday. The firm has a 50-day simple moving average of $17.17 and a 200-day simple moving average of $17.97. Alexander & Baldwin, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $20.30. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 27.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings data 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 firm 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%. On average, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a yield of 5.19%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 105.88%.

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.