Allianz Asset Management GmbH Has $8.72 Million Stock Holdings in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX)

Key Points

• Allianz Asset Management GmbH increased its stake in Alexander & Baldwin Holdings, Inc. by 29.5% during the first quarter, acquiring an additional 115,161 shares for a total of 506,034 shares worth approximately $8.7 million.
• The company recently announced a quarterly dividend of $0.225 per share, translating to an annualized dividend of $0.90 with a yield of 4.89%.
• A number of institutional investors, including Northern Trust Corp and JPMorgan Chase & Co., have also boosted their holdings in Alexander & Baldwin, indicating increasing interest in the company's stock.

Allianz Asset Management GmbH increased its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 506,034 shares of the financial services provider's stock after purchasing an additional 115,161 shares during the period. Allianz Asset Management GmbH owned approximately 0.70% of Alexander & Baldwin worth $8,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Alexander & Baldwin during the 4th quarter worth approximately $206,000. PharVision Advisers LLC acquired a new position in shares of Alexander & Baldwin during the 4th quarter worth approximately $209,000. Tower Research Capital LLC TRC grew its position in shares of Alexander & Baldwin by 138.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock worth $234,000 after purchasing an additional 7,653 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Alexander & Baldwin during the 4th quarter worth approximately $236,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Alexander & Baldwin during the 4th quarter worth approximately $272,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded down $0.38 on Wednesday, reaching $18.14. 515,715 shares of the company's stock were exchanged, compared to its average volume of 398,626. The company has a fifty day moving average of $17.91 and a 200-day moving average of $17.58. Alexander & Baldwin Holdings, Inc. has a twelve month low of $15.70 and a twelve month high of $20.14. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.95 and a beta of 1.01. The company has a current ratio of 0.20, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44.

Alexander & Baldwin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.96%. 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.