Balyasny Asset Management L.P. Buys New Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Balyasny Asset Management L.P. acquired a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 435,291 shares of the financial services provider's stock, valued at approximately $7,722,000. Balyasny Asset Management L.P. owned 0.60% of Alexander & Baldwin as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Alexander & Baldwin by 51.0% during the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock worth $15,612,000 after purchasing an additional 297,044 shares during the period. Norges Bank acquired a new position in Alexander & Baldwin during the fourth quarter worth $5,236,000. Bank of America Corp DE raised its position in Alexander & Baldwin by 321.2% in the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock worth $6,302,000 after acquiring an additional 270,907 shares in the last quarter. Northern Trust Corp lifted its holdings 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 acquiring an additional 194,534 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Alexander & Baldwin by 165.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 293,078 shares of the financial services provider's stock worth $5,199,000 after purchasing an additional 182,845 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX traded down $0.22 during mid-day trading on Wednesday, reaching $17.35. 321,821 shares of the company's stock were exchanged, compared to its average volume of 460,266. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 27.98 and a beta of 0.99. The company has a 50-day simple moving average of $17.10 and a two-hundred day simple moving average of $17.91.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders 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 dividend yield of 5.19%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 105.88%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. StockNews.com cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th.

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.