Reinhart Partners LLC. Sells 1,512,013 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Reinhart Partners LLC. reduced its stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 61.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 957,802 shares of the financial services provider's stock after selling 1,512,013 shares during the quarter. Reinhart Partners LLC. owned approximately 1.32% of Alexander & Baldwin worth $16,503,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Alexander & Baldwin by 321.2% in the 4th quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock worth $6,302,000 after purchasing an additional 270,907 shares during the period. Northern Trust Corp raised its holdings in Alexander & Baldwin by 23.5% during 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 acquiring an additional 194,534 shares during the period. Intech Investment Management LLC raised its holdings in 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 during the period. D. E. Shaw & Co. Inc. raised its holdings in Alexander & Baldwin by 692.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 161,784 shares of the financial services provider's stock valued at $2,870,000 after acquiring an additional 141,376 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in 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 during the period. 91.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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. Wall Street Zen cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th.

Alexander & Baldwin Trading Up 0.6%

Shares of Alexander & Baldwin stock opened at $18.14 on Friday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 29.26 and a beta of 1.03. The business has a 50-day moving average price of $17.16 and a 200-day moving average price of $17.72. 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, Inc. has a twelve month low of $15.70 and a twelve month high of $20.30.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, June 13th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.96%. Alexander & Baldwin's payout ratio is 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.

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