Proficio Capital Partners LLC Makes New $421,000 Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Proficio Capital Partners LLC bought a new stake in Alexander & Baldwin, Inc. (NYSE:ALEX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,736 shares of the financial services provider’s stock, valued at approximately $421,000.

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in Alexander & Baldwin by 61.2% during the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 35,916 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Alexander & Baldwin during the 3rd quarter valued at about $1,151,000. Smartleaf Asset Management LLC raised its holdings in Alexander & Baldwin by 284.2% in the 4th 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 last quarter. Geode Capital Management LLC raised its holdings in Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after acquiring an additional 23,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alexander & Baldwin by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock worth $35,723,000 after purchasing an additional 43,333 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock opened at $17.30 on Tuesday. The firm has a 50 day simple moving average of $17.76 and a 200-day simple moving average of $18.45. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 27.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last issued 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 analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. On average, analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.225 dividend. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a yield of 5.20%. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s payout ratio is 107.14%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALEX. Piper Sandler upped their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note 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.