Alexander & Baldwin (NYSE:ALEX) Shares Gap Up After 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 - Get Free Report)'s stock price gapped up before the market opened on Friday following a dividend announcement from the company. 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 trading hands.

The newly announced dividend which will be paid on Tuesday, October 7th. Investors of record on Friday, September 12th will be given 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 4.87%. Alexander & Baldwin's dividend payout ratio is currently 84.11%.

Alexander & Baldwin Stock Performance

The firm has a market capitalization of $1.34 billion, a PE ratio of 17.31 and a beta of 1.01. The business has a 50-day simple moving average of $17.88 and a 200-day simple moving average of $17.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.20 and a quick ratio of 0.31.

Institutional Trading of Alexander & Baldwin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in shares of Alexander & Baldwin by 2.3% during the fourth quarter. Bank of Montreal Can now owns 27,594 shares of the financial services provider's stock valued at $490,000 after buying an additional 615 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Alexander & Baldwin by 3.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,810 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 621 shares during the period. American Century Companies Inc. grew its position in Alexander & Baldwin by 3.4% in the 4th quarter. American Century Companies Inc. now owns 24,188 shares of the financial services provider's stock valued at $429,000 after acquiring an additional 797 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Alexander & Baldwin by 0.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 154,562 shares of the financial services provider's stock worth $2,742,000 after purchasing an additional 948 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of Alexander & Baldwin by 3.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 34,193 shares of the financial services provider's stock worth $589,000 after purchasing an additional 1,033 shares during the last quarter. 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.