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 reduced its stake in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 65.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Nuveen LLC acquired a new stake in Alexander & Baldwin during the first quarter worth approximately $8,116,000. Millennium Management LLC boosted its position in Alexander & Baldwin by 81.8% during the first quarter. Millennium Management LLC now owns 737,931 shares of the financial services provider's stock worth $12,715,000 after acquiring an additional 331,969 shares during the last quarter. Bank of America Corp DE boosted its position in Alexander & Baldwin by 321.2% during 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 acquiring an additional 270,907 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Alexander & Baldwin by 666.8% during the first quarter. Panagora Asset Management Inc. now owns 246,443 shares of the financial services provider's stock worth $4,246,000 after acquiring an additional 214,305 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Alexander & Baldwin by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider's stock worth $200,732,000 after purchasing an additional 172,992 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One equities 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 currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Alexander & Baldwin Stock Down 1.4%

ALEX traded down $0.27 during trading hours on Friday, reaching $18.37. 1,099,123 shares of the stock traded hands, compared to its average volume of 452,685. The firm's fifty day simple moving average is $18.46 and its two-hundred day simple moving average is $17.80. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.67 and a beta of 1.07. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $19.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.20 and a quick 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 issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, September 12th. Alexander & Baldwin's dividend payout ratio (DPR) is presently 84.11%.

Alexander & Baldwin 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.