Jacobs Levy Equity Management Inc. Takes Position 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. purchased a new position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 172,334 shares of the financial services provider's stock, valued at approximately $2,969,000. Jacobs Levy Equity Management Inc. owned about 0.24% of Alexander & Baldwin at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Hancock Whitney Corp raised its stake in shares of Alexander & Baldwin by 17.3% during the first quarter. Hancock Whitney Corp now owns 15,621 shares of the financial services provider's stock worth $269,000 after purchasing an additional 2,300 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its stake in shares of Alexander & Baldwin by 5.8% during the first quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 52,885 shares of the financial services provider's stock worth $911,000 after purchasing an additional 2,900 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Alexander & Baldwin during the first quarter worth approximately $191,000. Cubist Systematic Strategies LLC raised its stake in shares of Alexander & Baldwin by 41.2% during the first quarter. Cubist Systematic Strategies LLC now owns 354,363 shares of the financial services provider's stock worth $6,106,000 after purchasing an additional 103,334 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Alexander & Baldwin by 38.8% during the first quarter. Royal Bank of Canada now owns 24,719 shares of the financial services provider's stock worth $426,000 after purchasing an additional 6,906 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock traded down $0.44 during midday trading on Friday, reaching $18.44. The company's stock had a trading volume of 394,542 shares, compared to its average volume of 325,655. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $20.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. The stock's 50 day simple moving average is $18.40 and its 200 day simple moving average is $17.78. The firm has a market capitalization of $1.34 billion, a PE ratio of 17.24, a P/E/G ratio of 1.69 and a beta of 1.07.

Alexander & Baldwin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.9%. Alexander & Baldwin's dividend payout ratio (DPR) is currently 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.