Cubist Systematic Strategies LLC Buys 41,002 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Cubist Systematic Strategies LLC raised its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,029 shares of the financial services provider’s stock after purchasing an additional 41,002 shares during the quarter. Cubist Systematic Strategies LLC owned 0.35% of Alexander & Baldwin worth $4,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ALEX. Bank of Montreal Can lifted its holdings in shares of Alexander & Baldwin by 2.3% during the 4th quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 615 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Alexander & Baldwin by 2.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 33,607 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 648 shares in the last quarter. American Century Companies Inc. boosted 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. 1620 Investment Advisors Inc. increased its position in shares of 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 during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Alexander & Baldwin by 0.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 154,562 shares of the financial services provider’s stock valued at $2,742,000 after buying an additional 948 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALEX. StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Piper Sandler increased 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.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock opened at $17.54 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a one year low of $15.70 and a one year high of $20.30. The business’s 50 day simple moving average is $17.09 and its two-hundred day simple moving average is $17.92. The stock has a market capitalization of $1.28 billion, a P/E ratio of 28.29 and a beta of 0.99.

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

Alexander & Baldwin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a yield of 5.13%. Alexander & Baldwin’s dividend payout ratio is presently 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.