Entropy Technologies LP Purchases Shares of 19,240 Alexander & Baldwin, Inc. (NYSE:ALEX)

Entropy Technologies LP bought a new position in Alexander & Baldwin, Inc. (NYSE:ALEX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 19,240 shares of the financial services provider’s stock, valued at approximately $341,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in shares of Alexander & Baldwin by 61.2% in the 3rd quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 35,916 shares during the period. HighTower Advisors LLC bought a new stake in shares of Alexander & Baldwin during the 3rd quarter worth approximately $1,151,000. Victory Capital Management Inc. boosted its holdings in Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after acquiring an additional 29,006 shares during the period. Geode Capital Management LLC grew its position in Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after acquiring an additional 23,441 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock valued at $4,256,000 after acquiring an additional 111,392 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Up 1.0 %

ALEX stock opened at $18.02 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The firm’s 50-day moving average is $17.92 and its 200 day moving average is $18.75. The company has a market capitalization of $1.31 billion, a PE ratio of 29.06 and a beta of 1.29.

Alexander & Baldwin Dividend Announcement

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

Analysts Set New Price Targets

ALEX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and an average price target of $22.50.

About Alexander & Baldwin

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.