Alexander & Baldwin, Inc. (NYSE:ALEX) Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 880,018 shares of the financial services provider's stock after purchasing an additional 297,044 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.21% of Alexander & Baldwin worth $15,612,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake 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 buying 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 acquiring an additional 1,034 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Alexander & Baldwin during the fourth quarter worth $112,000. Point72 Asset Management L.P. raised its stake in Alexander & Baldwin by 35.1% during the third quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider's stock worth $175,000 after acquiring an additional 2,363 shares during the period. Finally, Aigen Investment Management LP bought a new position in Alexander & Baldwin in the fourth quarter worth about $227,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler increased their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th.

Alexander & Baldwin Price Performance

NYSE:ALEX traded up $0.19 during mid-day trading on Thursday, reaching $16.81. 54,242 shares of the stock were exchanged, compared to its average volume of 372,980. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $17.38 and a 200 day moving average price of $18.11. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30. The firm has a market capitalization of $1.22 billion, a PE ratio of 27.14 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly 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 company had revenue of $62.45 million for the quarter, compared to analysts' expectations of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Research analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.36%. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's dividend payout ratio (DPR) is currently 107.14%.

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.