State of Tennessee Department of Treasury Has $582,000 Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

State of Tennessee Department of Treasury decreased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 32,796 shares of the financial services provider’s stock after selling 1,285 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Alexander & Baldwin were worth $582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its stake in Alexander & Baldwin by 2.3% during the fourth quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock worth $490,000 after buying an additional 615 shares during the last quarter. Kestra Private Wealth Services LLC raised its position 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 worth $596,000 after acquiring an additional 648 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Alexander & Baldwin by 3.4% during the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 797 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in Alexander & Baldwin by 4.4% during the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 879 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Alexander & Baldwin by 0.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 154,562 shares of the financial services provider’s stock worth $2,742,000 after purchasing an additional 948 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALEX shares. StockNews.com cut Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th. Piper Sandler raised their price target 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $17.29 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $17.16 and a 200 day simple moving average of $17.95. Alexander & Baldwin, Inc. has a 12-month low of $15.70 and a 12-month high of $20.30. The company has a market cap of $1.26 billion, a P/E ratio of 27.89 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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. Sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 13th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.90 annualized dividend and a yield of 5.21%. Alexander & Baldwin’s dividend payout ratio (DPR) is 105.88%.

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.