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

Northern Trust Corp increased its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,020,845 shares of the financial services provider's stock after acquiring an additional 194,534 shares during the quarter. Northern Trust Corp owned about 1.41% of Alexander & Baldwin worth $18,110,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,239 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $112,000. XTX Topco Ltd purchased a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $206,000. Aigen Investment Management LP purchased a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $227,000. Finally, Tower Research Capital LLC TRC raised its stake in Alexander & Baldwin by 138.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 7,653 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX stock traded up $0.06 during trading hours on Monday, hitting $17.74. 327,796 shares of the company's stock were exchanged, compared to its average volume of 390,426. The company has a market capitalization of $1.29 billion, a PE ratio of 28.61 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's 50 day simple moving average is $17.05 and its 200-day simple moving average is $17.86. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm had revenue of $62.45 million for 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%. On average, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio is 105.88%.

Wall Street Analyst Weigh In

ALEX has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th. Piper Sandler lifted 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.

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.