ExodusPoint Capital Management LP Trims Holdings in Alexander & Baldwin, Inc. (NYSE:ALEX)

ExodusPoint Capital Management LP trimmed its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 75.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,700 shares of the financial services provider’s stock after selling 89,713 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Alexander & Baldwin were worth $527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,239 shares during the last quarter. Versant Capital Management Inc boosted its stake in Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,034 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Alexander & Baldwin during the 4th quarter valued at about $112,000. Point72 Asset Management L.P. increased its stake in Alexander & Baldwin by 35.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in Alexander & Baldwin during the 4th quarter valued at about $227,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Performance

Shares of ALEX stock opened at $16.24 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. The company has a 50 day moving average price of $17.47 and a 200-day moving average price of $18.16. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The firm has a market capitalization of $1.18 billion, a PE ratio of 26.19 and a beta of 1.03.

Alexander & Baldwin (NYSE:ALEX) last posted its 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 business had revenue of $62.45 million during the quarter, compared to the consensus estimate of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, equities research analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a dividend of $0.225 per share. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Friday, March 14th. Alexander & Baldwin’s payout ratio is currently 107.14%.

Wall Street Analysts Forecast Growth

ALEX has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Sunday, March 16th.

About Alexander & Baldwin

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.