Hsbc Holdings PLC lifted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX – Get Rating) by 38.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,093 shares of the financial services provider’s stock after buying an additional 19,085 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of Alexander & Baldwin worth $1,141,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in Alexander & Baldwin by 196.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 794,748 shares of the financial services provider’s stock worth $14,266,000 after purchasing an additional 526,872 shares during the period. State Street Corp increased its stake in shares of Alexander & Baldwin by 14.5% in the first quarter. State Street Corp now owns 4,026,802 shares of the financial services provider’s stock worth $94,133,000 after buying an additional 508,580 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in Alexander & Baldwin during the 3rd quarter valued at $8,295,000. Franklin Resources Inc. boosted its position in Alexander & Baldwin by 7.9% during the 2nd quarter. Franklin Resources Inc. now owns 2,425,915 shares of the financial services provider’s stock valued at $43,545,000 after buying an additional 178,229 shares during the period. Finally, Adelante Capital Management LLC grew its holdings in Alexander & Baldwin by 26.7% in the 2nd quarter. Adelante Capital Management LLC now owns 571,483 shares of the financial services provider’s stock worth $10,258,000 after acquiring an additional 120,555 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Alexander & Baldwin from a “hold” rating to a “sell” rating in a research note on Friday, February 24th. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Monday, November 14th.
Alexander & Baldwin Stock Performance
Alexander & Baldwin Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 23rd were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Thursday, December 22nd. Alexander & Baldwin’s payout ratio is 244.44%.
About Alexander & Baldwin
Alexander & Baldwin, Inc engages in real estate business. It operates through the following segments: Commercial Real Estate, Land Operations, and Materials and Construction. The Commercial Real Estate segment includes investments and acquisitions, construction and development, in-house leasing and property management, and asset management.
Featured Articles
- Get a free copy of the StockNews.com research report on Alexander & Baldwin (ALEX)
- Jack in the Box Pops On Tasty Results, Robust Outlook
- How Low Can Lowe’s Companies Go?
- Ambarella: An AI Play In The Making
- Terran Orbital’s New $2.4 Billion Contract is a Game Changer
- Wendy’s Price Firms After Sizzling Quarter And Juicy Outlook
Receive News & Ratings for Alexander & Baldwin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alexander & Baldwin and related companies with MarketBeat.com's FREE daily email newsletter.
