ArrowMark Colorado Holdings LLC Sells 262,000 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

ArrowMark Colorado Holdings LLC decreased its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 51.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,000 shares of the financial services provider's stock after selling 262,000 shares during the period. ArrowMark Colorado Holdings LLC owned about 0.34% of Alexander & Baldwin worth $4,400,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alexander & Baldwin by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider's stock valued at $35,723,000 after acquiring an additional 43,333 shares during the period. Northern Trust Corp boosted its position in Alexander & Baldwin by 23.5% in the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock valued at $18,110,000 after buying an additional 194,534 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock worth $15,612,000 after buying an additional 297,044 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Alexander & Baldwin by 0.5% during the fourth quarter. Clearbridge Investments LLC now owns 614,940 shares of the financial services provider's stock worth $10,909,000 after buying an additional 3,210 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Alexander & Baldwin by 2.2% in the fourth quarter. Invesco Ltd. now owns 457,377 shares of the financial services provider's stock valued at $8,114,000 after acquiring an additional 9,705 shares during the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Trading Up 1.0 %

NYSE:ALEX traded up $0.18 during trading hours on Friday, hitting $17.52. The stock had a trading volume of 106,449 shares, compared to its average volume of 385,197. Alexander & Baldwin, Inc. has a one year low of $15.70 and a one year high of $20.30. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 28.26 and a beta of 0.99. 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 business's 50 day moving average is $17.10 and its 200-day moving average is $17.92.

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, beating analysts' consensus estimates of $0.15 by $0.15. The firm had revenue of $62.45 million during 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%. Sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin's payout ratio is presently 105.88%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several research analyst reports. StockNews.com downgraded Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Piper Sandler increased their price objective 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.

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.