Northern Trust Corp Purchases 194,534 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Northern Trust Corp increased its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 23.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,020,845 shares of the financial services provider's stock after buying an additional 194,534 shares during the period. Northern Trust Corp owned 1.41% of Alexander & Baldwin worth $18,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALEX. Barclays PLC grew its stake in shares of Alexander & Baldwin by 25.4% during the third quarter. Barclays PLC now owns 251,868 shares of the financial services provider's stock valued at $4,836,000 after buying an additional 51,027 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Alexander & Baldwin by 32.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 39,434 shares of the financial services provider's stock valued at $700,000 after buying an additional 9,719 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Alexander & Baldwin by 5.1% during the fourth quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider's stock valued at $401,000 after buying an additional 1,096 shares during the last quarter. Regency Capital Management Inc. DE grew its stake in shares of Alexander & Baldwin by 59.6% during 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 during the last quarter. Finally, CKW Financial Group grew its stake in shares of Alexander & Baldwin by 13.1% during the fourth quarter. CKW Financial Group now owns 18,976 shares of the financial services provider's stock valued at $337,000 after buying an additional 2,191 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Trading Up 0.1%

Shares of NYSE ALEX traded up $0.02 during trading hours on Friday, hitting $17.70. The company's stock had a trading volume of 330,463 shares, compared to its average volume of 389,971. 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 stock has a market cap of $1.29 billion, a price-to-earnings ratio of 28.54 and a beta of 0.99. Alexander & Baldwin, Inc. has a 12 month low of $15.70 and a 12 month high of $20.30. The business has a 50-day simple moving average of $17.05 and a 200-day simple moving average of $17.88.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its earnings results 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 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%. On average, analysts anticipate 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 given a dividend of $0.225 per share. The ex-dividend date is Friday, June 13th. This represents a $0.90 annualized dividend and a yield of 5.09%. Alexander & Baldwin's payout ratio is 105.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALEX. StockNews.com cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. Piper Sandler raised 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.

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.