Jacobs Levy Equity Management Inc. Invests $2.97 Million in Alexander & Baldwin Holdings, Inc. $ALEX

Key Points

• Jacobs Levy Equity Management Inc. has acquired 172,334 shares of Alexander & Baldwin Holdings, Inc., valued at approximately $2.97 million, representing 0.24% of the company.
• A quarterly dividend of $0.225 per share is set to be paid on October 7th, with an annual yield of 4.8%.
• The stock currently holds a Moderate Buy rating from analysts, with an average target price of $24.00.

Jacobs Levy Equity Management Inc. bought a new position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 172,334 shares of the financial services provider's stock, valued at approximately $2,969,000. Jacobs Levy Equity Management Inc. owned 0.24% of Alexander & Baldwin at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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. Northern Trust Corp boosted its holdings in shares of Alexander & Baldwin by 23.5% during the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider's stock worth $18,110,000 after purchasing an additional 194,534 shares during the period. Regency Capital Management Inc. DE boosted its holdings in shares of Alexander & Baldwin by 21.7% during the first quarter. Regency Capital Management Inc. DE now owns 524,304 shares of the financial services provider's stock worth $9,034,000 after purchasing an additional 93,557 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Alexander & Baldwin by 29.5% during the first quarter. Allianz Asset Management GmbH now owns 506,034 shares of the financial services provider's stock worth $8,719,000 after purchasing an additional 115,161 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alexander & Baldwin by 3.8% during the fourth 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 worth $8,862,000 after purchasing an additional 18,312 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Price Performance

Shares of ALEX traded down $0.01 during trading hours on Monday, reaching $18.41. 49,147 shares of the stock traded hands, compared to its average volume of 419,489. 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 Holdings, Inc. has a 52-week low of $15.70 and a 52-week high of $20.11. The company's 50-day moving average price is $18.40 and its two-hundred day moving average price is $17.78. The company has a market cap of $1.34 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

Alexander & Baldwin Announces Dividend

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

Analysts Set New Price Targets

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