Alexander & Baldwin, Inc. (NYSE:ALEX) Stock Position Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 450,022 shares of the financial services provider's stock after selling 66,688 shares during the quarter. Nuveen Asset Management LLC owned about 0.62% of Alexander & Baldwin worth $7,983,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp grew its stake in Alexander & Baldwin by 23.5% during the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock worth $18,110,000 after purchasing an additional 194,534 shares in the last quarter. Bank of America Corp DE grew its position in Alexander & Baldwin by 321.2% during 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 buying an additional 270,907 shares during the period. Intech Investment Management LLC increased its stake in Alexander & Baldwin by 167.5% in the 4th quarter. Intech Investment Management LLC now owns 33,986 shares of the financial services provider's stock valued at $603,000 after purchasing an additional 21,283 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 buying an additional 1,239 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Alexander & Baldwin by 692.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 161,784 shares of the financial services provider's stock worth $2,870,000 after acquiring an additional 141,376 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ALEX shares. Wall Street Zen 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 objective on Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th.

Alexander & Baldwin Stock Up 0.1%

NYSE ALEX traded up $0.01 on Friday, reaching $17.93. The company had a trading volume of 491,613 shares, compared to its average volume of 392,466. The firm has a market capitalization of $1.30 billion, a PE ratio of 28.92 and a beta of 0.99. The firm has a 50-day moving average of $17.09 and a 200-day moving average of $17.77. Alexander & Baldwin, Inc. has a 1 year low of $15.70 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be paid a $0.225 dividend. 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 5.02%. Alexander & Baldwin's dividend payout ratio (DPR) is presently 105.88%.

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.