Geode Capital Management LLC Sells 23,559 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Geode Capital Management LLC cut its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,852,782 shares of the financial services provider's stock after selling 23,559 shares during the period. Geode Capital Management LLC owned 2.55% of Alexander & Baldwin worth $32,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC lifted 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 purchasing an additional 1,239 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Alexander & Baldwin by 90.0% during the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,034 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Alexander & Baldwin during the 4th quarter valued at $112,000. Aigen Investment Management LP bought a new position in Alexander & Baldwin in the 4th quarter worth $227,000. Finally, Van ECK Associates Corp increased its stake in Alexander & Baldwin by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 13,787 shares of the financial services provider's stock worth $245,000 after buying an additional 1,277 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Price Performance

Shares of Alexander & Baldwin stock traded up $0.19 during trading on Tuesday, reaching $16.83. 397,792 shares of the stock traded hands, compared to its average volume of 375,292. 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 company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.14 and a beta of 1.03. Alexander & Baldwin, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30. The business has a fifty day simple moving average of $17.29 and a two-hundred day simple moving average of $18.05.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping 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 firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. Sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a dividend of $0.225 per share. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.35%. Alexander & Baldwin's payout ratio is 107.14%.

Analysts Set New Price Targets

ALEX has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com cut shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th.

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.