Cubist Systematic Strategies LLC Has $6.11 Million Stake in Alexander & Baldwin Holdings, Inc. $ALEX

Key Points

• Cubist Systematic Strategies LLC increased its stake in Alexander & Baldwin by 41.2%, owning approximately 0.49% of the company worth $6,106,000 as of its latest SEC filing.
• Alexander & Baldwin has announced a quarterly dividend of $0.225 to be paid on October 7th, representing an annual yield of 4.8%.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a price target of $24.00.

Cubist Systematic Strategies LLC raised its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 41.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,363 shares of the financial services provider's stock after buying an additional 103,334 shares during the period. Cubist Systematic Strategies LLC owned 0.49% of Alexander & Baldwin worth $6,106,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP grew its holdings in shares of Alexander & Baldwin by 32.3% during the 1st quarter. Quarry LP now owns 4,264 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 1,042 shares during the last quarter. US Bancorp DE increased its holdings in Alexander & Baldwin by 468.6% in the 1st 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 acquired a new stake in Alexander & Baldwin during the 4th quarter worth $209,000. Raymond James Financial Inc. acquired a new position in shares of Alexander & Baldwin during the fourth quarter worth about $272,000. Finally, Cerity Partners LLC purchased a new position in shares of Alexander & Baldwin in the first quarter valued at $280,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Trading Down 2.2%

ALEX stock traded down $0.43 during trading on Monday, reaching $19.02. The company had a trading volume of 161,223 shares, compared to its average volume of 418,313. The company has a market cap of $1.38 billion, a P/E ratio of 17.77, a PEG ratio of 1.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.20 and a quick ratio of 0.20. The business has a 50 day moving average of $18.33 and a 200 day moving average of $17.75. Alexander & Baldwin Holdings, Inc. has a 52 week low of $15.70 and a 52 week high of $20.11.

Alexander & Baldwin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th will be paid a $0.225 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.7%. Alexander & Baldwin's dividend payout ratio is presently 84.11%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.00.

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.