Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Bought by Man Group plc

Man Group plc increased its position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 85.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302,917 shares of the financial services provider's stock after purchasing an additional 139,147 shares during the quarter. Man Group plc owned 0.42% of Alexander & Baldwin worth $5,374,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in shares of Alexander & Baldwin in the 4th quarter valued at $7,722,000. JPMorgan Chase & Co. raised its holdings in Alexander & Baldwin by 51.0% in the 4th 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. Norges Bank purchased a new position in Alexander & Baldwin during the fourth quarter worth approximately $5,236,000. Bank of America Corp DE grew its holdings in Alexander & Baldwin by 321.2% in the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock valued at $6,302,000 after purchasing an additional 270,907 shares during the period. Finally, Northern Trust Corp increased its position in shares of 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 valued at $18,110,000 after buying an additional 194,534 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

Alexander & Baldwin Trading Down 0.5%

Shares of ALEX traded down $0.09 during mid-day trading on Friday, reaching $17.31. The stock had a trading volume of 295,707 shares, compared to its average volume of 391,042. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 27.91 and a beta of 0.99. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week 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 business's fifty day moving average is $17.04 and its 200 day moving average is $17.82.

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

Alexander & Baldwin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.90 annualized dividend and a yield of 5.20%. Alexander & Baldwin's payout ratio is 105.88%.

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.