Oppenheimer Asset Management Inc. Sells 3,367 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Oppenheimer Asset Management Inc. lessened its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 24.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,365 shares of the financial services provider’s stock after selling 3,367 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Alexander & Baldwin were worth $184,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in Alexander & Baldwin by 90.0% in the fourth 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 last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares in the last quarter. KBC Group NV increased its holdings in shares of Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,338 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Alexander & Baldwin in the third quarter worth about $79,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Alexander & Baldwin by 35.1% in 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 in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Up 1.8 %

ALEX stock opened at $18.07 on Friday. 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 stock has a market capitalization of $1.31 billion, a P/E ratio of 29.14 and a beta of 1.27. The business has a 50-day moving average of $17.72 and a 200-day moving average of $18.61. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $62.45 million during 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%. On average, sell-side analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.225 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is currently 107.14%.

Wall Street Analysts Forecast Growth

ALEX has been the subject of several recent analyst reports. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Saturday. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler increased their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th.

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.