Alliancebernstein L.P. Buys 81,811 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Alliancebernstein L.P. lifted its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 177,298 shares of the financial services provider's stock after acquiring an additional 81,811 shares during the quarter. Alliancebernstein L.P. owned approximately 0.24% of Alexander & Baldwin worth $3,145,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC raised its stake in Alexander & Baldwin by 2.0% during the 4th 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 during the period. American Century Companies Inc. raised its position in Alexander & Baldwin by 3.4% during the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider's stock valued at $429,000 after buying an additional 797 shares during the period. 1620 Investment Advisors Inc. lifted its stake in Alexander & Baldwin by 4.4% in the 4th quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider's stock worth $371,000 after acquiring an additional 879 shares in the last quarter. Versant Capital Management Inc boosted its position in Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock worth $39,000 after acquiring an additional 1,034 shares during the period. Finally, Inspire Investing LLC grew its stake in Alexander & Baldwin by 5.1% during the 4th quarter. Inspire Investing LLC now owns 22,583 shares of the financial services provider's stock valued at $401,000 after acquiring an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Stock Up 1.1 %

ALEX traded up $0.19 during midday trading on Friday, hitting $16.81. 278,812 shares of the company's stock traded hands, compared to its average volume of 374,999. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $1.22 billion, a PE ratio of 27.11 and a beta of 1.03. Alexander & Baldwin, Inc. has a one year low of $15.70 and a one year high of $20.30. The stock's fifty day simple moving average is $17.34 and its 200-day simple moving average is $18.07.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. The business 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%. As a group, equities analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.36%. The ex-dividend date was Friday, March 14th. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio is 107.14%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several research reports. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler boosted their price target 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, StockNews.com cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th.

Alexander & Baldwin Company 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.