Harbor Capital Advisors Inc. Reduces Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Harbor Capital Advisors Inc. trimmed its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 59.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,738 shares of the financial services provider's stock after selling 135,729 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.13% of Alexander & Baldwin worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Alexander & Baldwin by 284.2% in the 4th 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 during the period. Wealthfront Advisers LLC acquired a new stake in shares of Alexander & Baldwin in the 4th quarter valued at approximately $112,000. XTX Topco Ltd acquired a new stake in shares of Alexander & Baldwin in the 4th quarter valued at approximately $206,000. PharVision Advisers LLC acquired a new stake in shares of Alexander & Baldwin in the 4th quarter valued at approximately $209,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Alexander & Baldwin in the 4th quarter valued at approximately $227,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

NYSE ALEX traded down $0.01 during mid-day trading on Monday, hitting $17.85. The stock had a trading volume of 476,791 shares, compared to its average volume of 397,672. 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 $1.30 billion, a price-to-earnings ratio of 28.79 and a beta of 1.03. The company has a 50 day simple moving average of $17.34 and a 200 day simple moving average of $17.64. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin's payout ratio is currently 105.88%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th. Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, February 28th.

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.