Charles Schwab Investment Management Inc. Raises Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,461,071 shares of the financial services provider's stock after buying an additional 60,119 shares during the period. Charles Schwab Investment Management Inc. owned 2.01% of Alexander & Baldwin worth $27,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ALEX. Federated Hermes Inc. boosted its stake in Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 1,240 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Alexander & Baldwin by 46.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,516 shares of the financial services provider's stock worth $59,000 after purchasing an additional 1,114 shares in the last quarter. Van ECK Associates Corp grew its stake in Alexander & Baldwin by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider's stock worth $193,000 after buying an additional 1,672 shares during the last quarter. Everett Harris & Co. CA acquired a new position in Alexander & Baldwin during the 4th quarter valued at about $195,000. Finally, Duality Advisers LP purchased a new stake in Alexander & Baldwin in the fourth quarter valued at about $199,000. Institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded down $0.28 during trading on Thursday, hitting $16.48. The stock had a trading volume of 232,501 shares, compared to its average volume of 298,068. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $19.99. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 27.02 and a beta of 1.21. The stock has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $17.05.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $61.20 million during the quarter, compared to analyst estimates of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same period last year, the firm posted $0.29 EPS. On average, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.14 earnings per share for the current fiscal year.

Alexander & Baldwin Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.222 per share. The ex-dividend date is Friday, June 14th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.39%. Alexander & Baldwin's payout ratio is currently 145.90%.

Analyst Ratings Changes

ALEX has been the topic of a number of research analyst reports. Piper Sandler dropped their price target on Alexander & Baldwin from $19.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, March 14th. TheStreet lowered shares of Alexander & Baldwin from a "b-" rating to a "c+" rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Alexander & Baldwin has a consensus rating of "Hold" and an average price target of $18.50.

About Alexander & Baldwin

Alexander & Baldwin, Inc NYSE: ALEX (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.