Bank of America Corp DE Grows Stock Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Bank of America Corp DE grew its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 321.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,240 shares of the financial services provider's stock after acquiring an additional 270,907 shares during the period. Bank of America Corp DE owned about 0.49% of Alexander & Baldwin worth $6,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ALEX. Smartleaf Asset Management LLC grew its stake in shares of Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,239 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth $112,000. XTX Topco Ltd acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth $206,000. Aigen Investment Management LP acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth $227,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Alexander & Baldwin by 138.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock worth $234,000 after purchasing an additional 7,653 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALEX. Piper Sandler upped their price objective on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Wall Street Zen downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th.

Alexander & Baldwin Price Performance

Shares of ALEX stock traded up $0.01 during midday trading on Friday, reaching $17.93. 491,613 shares of the company traded hands, compared to its average volume of 391,785. The firm's 50 day simple moving average is $17.09 and its two-hundred day simple moving average is $17.75. 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. The firm has a market cap of $1.30 billion, a PE ratio of 28.92 and a beta of 0.99.

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 analysts' consensus estimates of $0.15 by $0.15. The business had revenue of $62.45 million during the quarter, compared to analysts' expectations of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. On average, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders 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 annualized dividend and a yield of 5.02%. Alexander & Baldwin's payout ratio is currently 105.88%.

Alexander & Baldwin 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.