Y Intercept Hong Kong Ltd Makes New Investment in Alexander & Baldwin, Inc. (NYSE:ALEX)

Y Intercept Hong Kong Ltd acquired a new position in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,160 shares of the financial services provider’s stock, valued at approximately $588,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC increased 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 acquiring an additional 35,916 shares during the period. HighTower Advisors LLC bought a new position in Alexander & Baldwin during the 3rd quarter worth $1,151,000. Victory Capital Management Inc. boosted its holdings in shares of Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after purchasing an additional 29,006 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 23,441 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after purchasing an additional 111,392 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Up 0.3 %

NYSE ALEX opened at $18.06 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 29.12 and a beta of 1.29. The business’s fifty day moving average is $17.69 and its 200 day moving average is $18.64.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to the consensus estimate of $49.68 million. As a group, sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS 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. Investors of record on Friday, March 14th will be issued a dividend of $0.225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 annualized dividend and a dividend yield of 4.98%. Alexander & Baldwin’s dividend payout ratio (DPR) is 145.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler raised their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Finally, StockNews.com downgraded Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Friday.

Alexander & Baldwin 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.