Reinhart Partners LLC. Sells 21,531 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Reinhart Partners LLC. lowered its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEXFree Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,442,724 shares of the financial services provider’s stock after selling 21,531 shares during the period. Alexander & Baldwin makes up 1.6% of Reinhart Partners LLC.’s investment portfolio, making the stock its 23rd largest holding. Reinhart Partners LLC.’s holdings in Alexander & Baldwin were worth $40,232,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALEX. Federated Hermes Inc. raised its holdings in Alexander & Baldwin by 88.5% in the fourth quarter. Federated Hermes Inc. now owns 2,641 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,240 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Alexander & Baldwin by 171.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,533 shares of the financial services provider’s stock worth $67,000 after buying an additional 2,232 shares during the last quarter. Van ECK Associates Corp raised its holdings in Alexander & Baldwin by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 10,165 shares of the financial services provider’s stock worth $193,000 after buying an additional 1,672 shares during the last quarter. Everett Harris & Co. CA purchased a new position in Alexander & Baldwin in the fourth quarter worth about $195,000. Finally, Duality Advisers LP purchased a new position in Alexander & Baldwin in the fourth quarter worth about $199,000. Institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Performance

Alexander & Baldwin stock traded down $0.05 during midday trading on Tuesday, reaching $16.40. 208,443 shares of the company traded hands, compared to its average volume of 294,190. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 26.89 and a beta of 1.24. The business has a 50 day moving average of $16.48 and a two-hundred day moving average of $17.06. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $19.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.38.

Alexander & Baldwin (NYSE:ALEXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $61.20 million for the quarter, compared to the consensus estimate of $51.55 million. Alexander & Baldwin had a net margin of 20.25% and a return on equity of 4.76%. During the same quarter in the prior year, the firm earned $0.29 earnings per share. As a group, research analysts predict that Alexander & Baldwin, Inc. will post 1.15 earnings per share for the current year.

Alexander & Baldwin Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 14th will be given a $0.222 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.89 annualized dividend and a yield of 5.41%. Alexander & Baldwin’s payout ratio is presently 145.90%.

Wall Street Analyst Weigh In

ALEX has been the subject of several recent analyst reports. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Piper Sandler lowered their price objective on shares of Alexander & Baldwin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Get Our Latest Research Report on Alexander & Baldwin

Alexander & Baldwin Company Profile

(Free Report)

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.

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Institutional Ownership by Quarter for Alexander & Baldwin (NYSE:ALEX)

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