Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 321.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,240 shares of the financial services provider's stock after buying an additional 270,907 shares during the period. Bank of America Corp DE owned 0.49% of Alexander & Baldwin worth $6,302,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider's stock worth $35,723,000 after buying an additional 43,333 shares in the last quarter. Northern Trust Corp raised its stake in Alexander & Baldwin by 23.5% during the fourth 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 during the period. JPMorgan Chase & Co. raised 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 purchasing an additional 297,044 shares during the period. Clearbridge Investments LLC raised its stake in 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 purchasing an additional 3,210 shares during the period. Finally, Invesco Ltd. raised its stake in Alexander & Baldwin by 2.2% during the fourth quarter. Invesco Ltd. now owns 457,377 shares of the financial services provider's stock worth $8,114,000 after purchasing an additional 9,705 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Up 0.2%

NYSE ALEX traded up $0.04 on Friday, hitting $17.96. 85,871 shares of the stock were exchanged, compared to its average volume of 389,981. 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 fifty-two week low of $15.70 and a fifty-two week high of $20.30. The company has a market cap of $1.31 billion, a PE ratio of 28.97 and a beta of 0.99. The company has a 50-day moving average price of $17.07 and a 200-day moving average price of $17.78.

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

Alexander & Baldwin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be given a $0.225 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.90 annualized dividend and a yield of 5.01%. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALEX. 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 shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company 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.