Alexander & Baldwin (NYSE:ALEX) Sees Strong Trading Volume - 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 were traded during 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 reiterated a "market perform" rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Alexander & Baldwin Trading Down 1.4%

The company has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $17.80. 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 has a market cap of $1.34 billion, a PE ratio of 17.17, a P/E/G ratio of 1.67 and a beta of 1.07.

Alexander & Baldwin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th will be issued a $0.225 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.9%. Alexander & Baldwin's dividend payout ratio is presently 84.11%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Alexander & Baldwin by 321.2% in the 4th quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock valued at $6,302,000 after acquiring an additional 270,907 shares during the last quarter. HighTower Advisors LLC grew its stake in Alexander & Baldwin by 39.1% during the 1st quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider's stock worth $1,429,000 after buying an additional 23,322 shares during the last quarter. GAMMA Investing LLC lifted its position in Alexander & Baldwin by 2,211.5% during the 1st quarter. GAMMA Investing LLC now owns 33,909 shares of the financial services provider's stock worth $584,000 after acquiring an additional 32,442 shares during the period. Diversified Trust Co acquired a new stake in Alexander & Baldwin during the 1st quarter worth approximately $606,000. Finally, Millennium Management LLC lifted its position in Alexander & Baldwin by 86.0% during the 4th quarter. Millennium Management LLC now owns 405,962 shares of the financial services provider's stock worth $7,202,000 after acquiring an additional 187,760 shares during the period. Hedge funds and other institutional investors 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.