Alexander & Baldwin (NYSE:ALEX) Sees Large Volume Increase - What's Next?

Key Points

• Alexander & Baldwin experienced a significant increase in trading volume, with 1,567,191 shares traded, marking a 266% rise from the previous session.
• The stock currently holds a consensus rating of "Moderate Buy" with a price target of $24.00 from Wall Street analysts.
• A quarterly dividend of $0.225 will be paid to shareholders on October 7th, reflecting an annualized yield of 5.0%.

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Get Free Report) saw an uptick in trading volume on Monday . 1,567,191 shares traded hands during mid-day trading, an increase of 266% from the previous session's volume of 427,638 shares.The stock last traded at $18.20 and had previously closed at $18.42.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Alexander & Baldwin has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Alexander & Baldwin Price Performance

The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44. The company's fifty day moving average is $18.41 and its two-hundred day moving average is $17.78. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.65 and a beta of 1.07.

Alexander & Baldwin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th will be paid a $0.225 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.90 annualized dividend and a dividend yield of 5.0%. Alexander & Baldwin's payout ratio is 84.11%.

Hedge Funds Weigh In On Alexander & Baldwin

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Alexander & Baldwin by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider's stock worth $200,732,000 after acquiring an additional 172,992 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Alexander & Baldwin by 33.1% in the second quarter. Franklin Resources Inc. now owns 2,517,438 shares of the financial services provider's stock worth $44,886,000 after acquiring an additional 626,289 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alexander & Baldwin by 21.0% in the second quarter. JPMorgan Chase & Co. now owns 1,515,304 shares of the financial services provider's stock worth $27,018,000 after acquiring an additional 263,483 shares in the last quarter. Millennium Management LLC grew its stake in shares of Alexander & Baldwin by 81.8% in the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider's stock worth $12,715,000 after acquiring an additional 331,969 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Alexander & Baldwin by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 663,380 shares of the financial services provider's stock worth $11,828,000 after acquiring an additional 22,735 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

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.

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