Prudential Financial Inc. Acquires 24,700 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Prudential Financial Inc. boosted its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,997 shares of the financial services provider’s stock after acquiring an additional 24,700 shares during the period. Prudential Financial Inc.’s holdings in Alexander & Baldwin were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Fox Run Management L.L.C. lifted its holdings in shares of Alexander & Baldwin by 49.4% during the fourth quarter. Fox Run Management L.L.C. now owns 42,304 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 13,994 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Alexander & Baldwin during the fourth quarter valued at $277,000. American Century Companies Inc. raised its stake in Alexander & Baldwin by 3.4% during the fourth quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider’s stock valued at $429,000 after buying an additional 797 shares during the last quarter. 1620 Investment Advisors Inc. boosted its holdings in Alexander & Baldwin by 4.4% in the fourth quarter. 1620 Investment Advisors Inc. now owns 20,937 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 879 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Alexander & Baldwin by 37.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,044 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 10,736 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Down 3.6 %

Alexander & Baldwin stock opened at $16.52 on Friday. Alexander & Baldwin, Inc. has a one year low of $15.53 and a one year high of $20.30. The business’s fifty day moving average is $17.70 and its 200 day moving average is $18.32. The stock has a market capitalization of $1.20 billion, a PE ratio of 26.65 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 (NYSE:ALEX) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The firm had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. On average, sell-side analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.45%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALEX. StockNews.com cut shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Piper Sandler lifted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

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.