Millennium Management LLC Buys 187,760 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Millennium Management LLC boosted its position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 86.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 405,962 shares of the financial services provider's stock after purchasing an additional 187,760 shares during the quarter. Millennium Management LLC owned about 0.56% of Alexander & Baldwin worth $7,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in shares of Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after buying an additional 1,239 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in Alexander & Baldwin during the fourth quarter worth approximately $112,000. XTX Topco Ltd bought a new position in Alexander & Baldwin in the fourth quarter worth approximately $206,000. Aigen Investment Management LP bought a new position in Alexander & Baldwin in the fourth quarter worth approximately $227,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Alexander & Baldwin by 138.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 7,653 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded up $0.01 during mid-day trading on Friday, reaching $17.93. 491,613 shares of the company's stock were exchanged, compared to its average volume of 391,785. The business's fifty day simple moving average is $17.09 and its 200 day simple moving average is $17.75. The firm has a market capitalization of $1.30 billion, a PE ratio of 28.92 and a beta of 0.99. Alexander & Baldwin, Inc. has a one year low of $15.70 and a one year high of $20.30. 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 (NYSE:ALEX - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, June 13th. Alexander & Baldwin's dividend payout ratio (DPR) is presently 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.