Ameriprise Financial Inc. Sells 15,085 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Ameriprise Financial Inc. lessened its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,298 shares of the financial services provider's stock after selling 15,085 shares during the quarter. Ameriprise Financial Inc. owned about 0.23% of Alexander & Baldwin worth $3,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ALEX. Northern Trust Corp boosted its stake 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 worth $18,110,000 after buying an additional 194,534 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Alexander & Baldwin by 167.5% during the fourth quarter. Intech Investment Management LLC now owns 33,986 shares of the financial services provider's stock valued at $603,000 after acquiring an additional 21,283 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 valued at $29,000 after acquiring an additional 1,239 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 43,333 shares during the period. Finally, Prudential Financial Inc. grew its stake in Alexander & Baldwin by 32.8% in the fourth quarter. Prudential Financial Inc. now owns 99,997 shares of the financial services provider's stock worth $1,774,000 after purchasing an additional 24,700 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALEX shares. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Wall Street Zen cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a research note on Sunday, March 16th.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock traded up $0.01 during trading on Friday, hitting $17.93. 491,613 shares of the company's stock traded hands, compared to its average volume of 391,785. 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, Inc. has a 1 year low of $15.70 and a 1 year high of $20.30. The stock has a market capitalization of $1.30 billion, a P/E ratio of 28.92 and a beta of 0.99. The business has a 50-day simple moving average of $17.09 and a 200-day simple moving average of $17.75.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to analysts' expectations of $49.68 million. As a group, analysts forecast that Alexander & Baldwin, Inc. will post 1.35 EPS for the current 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 issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio is 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.