Alexander & Baldwin (NYSE:ALEX) Shares Gap Up Following Dividend Announcement

Key Points

• Alexander & Baldwin stock price gapped up from $18.05 to $19.09 following a dividend announcement, with shares last traded at $18.46.
• The company declared a $0.225 dividend to be paid on October 7th, representing an annualized dividend of $0.90 and a yield of 4.90%.
• Over 91% of Alexander & Baldwin's stock is owned by institutional investors and hedge funds, indicating strong interest from professional investors.
• The stock has a market cap of $1.34 billion and a price-to-earnings ratio of 21.67, reflecting its valuation in the market.

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - )'s stock price gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $18.05, but opened at $19.09. Alexander & Baldwin shares last traded at $18.46, with a volume of 54,048 shares. The newly announced dividend which will be paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.90 annualized dividend and a yield of 4.90%. Alexander & Baldwin's dividend payout ratio (DPR) is 105.88%.

Alexander & Baldwin Stock Performance

The firm has a fifty day simple moving average of $17.86 and a 200 day simple moving average of $17.55. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 21.67 and a beta of 1.01.

Hedge Funds Weigh In On Alexander & Baldwin

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp acquired a new position in shares of Alexander & Baldwin in the 1st quarter worth approximately $41,000. Parallel Advisors LLC raised its holdings in shares of Alexander & Baldwin by 76.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider's stock worth $44,000 after buying an additional 1,069 shares in the last quarter. Quarry LP raised its holdings in shares of Alexander & Baldwin by 32.3% in the 1st quarter. Quarry LP now owns 4,264 shares of the financial services provider's stock worth $73,000 after buying an additional 1,042 shares in the last quarter. US Bancorp DE grew its position in Alexander & Baldwin by 468.6% during the 1st quarter. US Bancorp DE now owns 6,795 shares of the financial services provider's stock worth $117,000 after acquiring an additional 5,600 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Alexander & Baldwin during the 1st quarter worth approximately $191,000. 91.29% of the stock is owned by institutional investors and hedge funds.

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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