Alexander & Baldwin Holdings, Inc. $ALEX Shares Purchased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Alexander & Baldwin Holdings, Inc. by 666.8%, now owning 246,443 shares valued at approximately $4.25 million.
• The company recently announced a quarterly dividend of $0.225 per share, representing an annual yield of 4.6% and a payout ratio of 84.11%.
• Alexander & Baldwin has a market cap of $1.41 billion, with stock performance showing a 1-year low of $15.70 and a high of $20.11.

Panagora Asset Management Inc. lifted its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 666.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,443 shares of the financial services provider's stock after buying an additional 214,305 shares during the period. Panagora Asset Management Inc. owned approximately 0.34% of Alexander & Baldwin worth $4,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ALEX. US Bancorp DE boosted its position in shares of Alexander & Baldwin by 468.6% in the first quarter. US Bancorp DE now owns 6,795 shares of the financial services provider's stock worth $117,000 after buying an additional 5,600 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Alexander & Baldwin in the fourth quarter worth about $209,000. Tower Research Capital LLC TRC boosted its holdings in Alexander & Baldwin by 138.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 7,653 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Alexander & Baldwin in the fourth quarter valued at about $272,000. Finally, Cerity Partners LLC purchased a new position in Alexander & Baldwin in the first quarter valued at about $280,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Alexander & Baldwin Stock Performance

ALEX traded up $0.18 during trading hours on Thursday, hitting $19.14. The company's stock had a trading volume of 242,541 shares, compared to its average volume of 273,949. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $20.11. 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 firm has a market capitalization of $1.39 billion, a PE ratio of 17.88, a PEG ratio of 1.70 and a beta of 1.07. The company has a 50-day simple moving average of $18.30 and a 200 day simple moving average of $17.74.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, September 12th. This represents a $0.90 annualized dividend and a dividend yield of 4.7%. Alexander & Baldwin's dividend payout ratio (DPR) is 84.11%.

About Alexander & Baldwin

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.