Pekin Hardy Strauss Inc. Sells 2,885 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Pekin Hardy Strauss Inc. lowered its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 318,601 shares of the financial services provider’s stock after selling 2,885 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Alexander & Baldwin were worth $5,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of ALEX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock worth $9,240,000 after buying an additional 382,327 shares in the last quarter. State Street Corp boosted its stake in Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Alexander & Baldwin by 10.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after buying an additional 190,357 shares in the last quarter. Regency Capital Management Inc. DE boosted its stake in Alexander & Baldwin by 59.6% during the fourth quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock worth $7,641,000 after buying an additional 160,928 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alexander & Baldwin by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock worth $11,193,000 after buying an additional 140,207 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Stock Down 0.1 %

Shares of NYSE:ALEX opened at $17.62 on Friday. Alexander & Baldwin, Inc. has a 52 week low of $15.53 and a 52 week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company’s fifty day moving average is $17.70 and its 200-day moving average is $18.67. The company has a market capitalization of $1.28 billion, a PE ratio of 28.41 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $0.2225 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.05%. Alexander & Baldwin’s dividend payout ratio is 145.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alexander & Baldwin currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Alexander & Baldwin Company 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.