Allianz Asset Management GmbH Buys 115,161 Shares of 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 grew its holdings in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 29.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 506,034 shares of the financial services provider's stock after buying an additional 115,161 shares during the quarter. Allianz Asset Management GmbH owned 0.70% of Alexander & Baldwin worth $8,719,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Northern Trust Corp raised its stake in shares of Alexander & Baldwin by 23.5% in the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock valued at $18,110,000 after buying an additional 194,534 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock valued at $15,612,000 after buying an additional 297,044 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Alexander & Baldwin by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 614,940 shares of the financial services provider's stock valued at $10,909,000 after buying an additional 3,210 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alexander & Baldwin by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 499,565 shares of the financial services provider's stock valued at $8,862,000 after buying an additional 18,312 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Alexander & Baldwin by 2.2% in the 4th quarter. Invesco Ltd. now owns 457,377 shares of the financial services provider's stock valued at $8,114,000 after buying an additional 9,705 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Alexander & Baldwin Trading Up 2.0%

Shares of ALEX stock opened at $18.41 on Friday. Alexander & Baldwin Holdings, Inc. has a 52-week low of $15.70 and a 52-week high of $20.30. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 17.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a fifty day moving average of $17.87 and a 200-day moving average of $17.56.

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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Friday, September 12th. Alexander & Baldwin's dividend payout ratio is 84.11%.

Alexander & Baldwin Company 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.

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