Private Management Group Inc. Sells 904 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Private Management Group Inc. lessened its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,191 shares of the financial services provider’s stock after selling 904 shares during the period. Private Management Group Inc.’s holdings in Alexander & Baldwin were worth $2,239,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Alexander & Baldwin by 103.3% in the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after buying an additional 759 shares during the period. Versant Capital Management Inc lifted its stake in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,034 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Alexander & Baldwin by 19.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 572 shares in the last quarter. Finally, KBC Group NV raised its position in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,338 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Alexander & Baldwin has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $18.02 on Friday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 29.06 and a beta of 1.29. The company has a 50 day moving average of $18.08 and a 200-day moving average of $18.78. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 1-year low of $15.53 and a 1-year high of $20.30.

Alexander & Baldwin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s payout ratio is 145.16%.

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.