Pekin Hardy Strauss Inc. Has $5.65 Million Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Pekin Hardy Strauss Inc. trimmed its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,601 shares of the financial services provider’s stock after selling 2,885 shares during the quarter. Pekin Hardy Strauss Inc. owned approximately 0.44% of Alexander & Baldwin worth $5,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of Alexander & Baldwin by 61.2% during the third 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 acquired a new stake in shares of Alexander & Baldwin during the third quarter worth approximately $1,151,000. Victory Capital Management Inc. boosted its holdings in shares of Alexander & Baldwin by 3.1% during the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after purchasing an additional 29,006 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after purchasing an additional 23,441 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Alexander & Baldwin Price Performance

Shares of ALEX opened at $17.62 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of 28.41 and a beta of 1.29. The firm’s 50 day moving average price is $17.70 and its 200 day moving average price is $18.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30.

Alexander & Baldwin Dividend Announcement

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

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.