Alexander & Baldwin Holdings, Inc. $ALEX Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Alexander & Baldwin Holdings, Inc. by 15.5% during the first quarter, now holding 428,264 shares worth approximately $7.38 million.
• Several institutional investors have also altered their positions, with US Bancorp DE increasing its stake by 468.6% during the same period, now owning shares valued at $117,000.
• A quarterly dividend of $0.225 has been declared by Alexander & Baldwin, reflecting an annualized yield of 4.9%.

Goldman Sachs Group Inc. trimmed its position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 428,264 shares of the financial services provider's stock after selling 78,338 shares during the period. Goldman Sachs Group Inc. owned 0.59% of Alexander & Baldwin worth $7,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in Alexander & Baldwin in the first quarter worth about $41,000. Quarry LP lifted its holdings in Alexander & Baldwin by 32.3% in the first quarter. Quarry LP now owns 4,264 shares of the financial services provider's stock worth $73,000 after acquiring an additional 1,042 shares during the last quarter. US Bancorp DE lifted its holdings in Alexander & Baldwin by 468.6% in the first quarter. US Bancorp DE now owns 6,795 shares of the financial services provider's stock worth $117,000 after acquiring an additional 5,600 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Alexander & Baldwin in the first quarter worth about $191,000. Finally, PharVision Advisers LLC bought a new position in Alexander & Baldwin in the fourth quarter worth about $209,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Price Performance

NYSE:ALEX traded down $0.17 during midday trading on Friday, hitting $18.48. 162,393 shares of the stock were exchanged, compared to its average volume of 430,195. Alexander & Baldwin Holdings, Inc. has a one year low of $15.70 and a one year high of $19.97. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.66 and a beta of 1.07. The business has a 50-day moving average price of $18.45 and a two-hundred day moving average price of $17.80. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44.

Alexander & Baldwin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th will be given a $0.225 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.90 annualized dividend and a yield of 4.9%. Alexander & Baldwin's payout ratio is 84.11%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.