Alexander & Baldwin Holdings, Inc. $ALEX Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank has reduced its stake in Alexander & Baldwin Holdings, Inc. by 65.0%, now owning 21,861 shares worth approximately $377,000.
• Several institutional investors significantly increased their holdings in Alexander & Baldwin, with Bank of America lifting its position by 321.2% during the fourth quarter.
• A quarterly dividend of $0.225 has been declared, representing an annualized dividend of $0.90 and a yield of 5.0%.

First Hawaiian Bank lowered its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 65.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,861 shares of the financial services provider's stock after selling 40,596 shares during the quarter. First Hawaiian Bank's holdings in Alexander & Baldwin were worth $377,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Alexander & Baldwin by 321.2% in the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider's stock worth $6,302,000 after purchasing an additional 270,907 shares during the period. HighTower Advisors LLC lifted its holdings in Alexander & Baldwin by 39.1% in the first quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider's stock worth $1,429,000 after purchasing an additional 23,322 shares during the period. GAMMA Investing LLC raised its position in Alexander & Baldwin by 2,211.5% in the first 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 in the last quarter. Diversified Trust Co bought a new stake in Alexander & Baldwin in the first quarter worth about $606,000. Finally, D. E. Shaw & Co. Inc. raised its position in Alexander & Baldwin by 692.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 161,784 shares of the financial services provider's stock worth $2,870,000 after acquiring an additional 141,376 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Alexander & Baldwin Trading Down 1.7%

Shares of NYSE ALEX opened at $18.12 on Tuesday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.65 and a beta of 1.07. The business has a 50 day simple moving average of $18.41 and a 200 day simple moving average of $17.78. Alexander & Baldwin Holdings, Inc. has a 52 week low of $15.70 and a 52 week high of $20.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20.

Alexander & Baldwin Announces Dividend

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

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