Becker Capital Management Inc. bought a new stake in Alexander & Baldwin Inc (NYSE:ALEX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,846 shares of the financial services provider’s stock, valued at approximately $505,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Rice Partnership LLC increased its holdings in Alexander & Baldwin by 1.7% in the first quarter. Rice Partnership LLC now owns 25,493 shares of the financial services provider’s stock worth $649,000 after buying an additional 430 shares during the last quarter. Arizona State Retirement System boosted its position in Alexander & Baldwin by 1.1% during the fourth quarter. Arizona State Retirement System now owns 48,595 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 524 shares during the period. Public Employees Retirement System of Ohio boosted its position in Alexander & Baldwin by 51.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,647 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 563 shares during the period. Mason Street Advisors LLC boosted its position in Alexander & Baldwin by 1.6% during the first quarter. Mason Street Advisors LLC now owns 36,036 shares of the financial services provider’s stock worth $917,000 after purchasing an additional 572 shares during the period. Finally, River Road Asset Management LLC boosted its position in Alexander & Baldwin by 4.5% during the fourth quarter. River Road Asset Management LLC now owns 22,455 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 962 shares during the period. Institutional investors own 77.58% of the company’s stock.
In other news, Director Stanley M. Kuriyama sold 6,300 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $23.58, for a total value of $148,554.00. Following the completion of the sale, the director now directly owns 332,510 shares of the company’s stock, valued at $7,840,585.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.
Shares of Alexander & Baldwin stock opened at $23.70 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.64 and a quick ratio of 2.64. Alexander & Baldwin Inc has a 12-month low of $17.58 and a 12-month high of $25.69.
Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Alexander & Baldwin had a negative return on equity of 8.56% and a negative net margin of 16.70%. The company had revenue of $129.40 million during the quarter, compared to analysts’ expectations of $89.23 million. During the same period in the prior year, the business earned $0.66 earnings per share. Alexander & Baldwin’s revenue for the quarter was up 14.2% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 10th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.78%. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, May 9th.
Separately, TheStreet raised Alexander & Baldwin from a “d+” rating to a “c-” rating in a research report on Tuesday, January 29th.
Alexander & Baldwin Profile
Alexander & Baldwin, Inc is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages approximately 3.5 million square feet of primarily retail and industrial space in Hawai`i, and is a major landowner in the state.
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