36,296 Shares in Alexander & Baldwin Holdings, Inc. $ALEX Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired a new stake in Alexander & Baldwin Holdings, purchasing 36,296 shares valued at approximately $625,000 in the first quarter.
• Other institutional investors have also increased their positions in Alexander & Baldwin, with 91.29% of the company's stock now owned by hedge funds and other institutional investors.
• The company declared a quarterly dividend of $0.225 per share, yielding 4.6%, to be paid on October 7th.

Magnetar Financial LLC acquired a new position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,296 shares of the financial services provider's stock, valued at approximately $625,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALEX. US Bancorp DE boosted its stake in shares of Alexander & Baldwin by 468.6% in the first quarter. US Bancorp DE now owns 6,795 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 5,600 shares during the period. PharVision Advisers LLC purchased a new position in shares of Alexander & Baldwin in the fourth quarter valued at $209,000. Tower Research Capital LLC TRC boosted its stake in shares of Alexander & Baldwin by 138.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,169 shares of the financial services provider's stock valued at $234,000 after purchasing an additional 7,653 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Alexander & Baldwin in the fourth quarter valued at $272,000. Finally, Cerity Partners LLC purchased a new position in shares of Alexander & Baldwin in the first quarter valued at $280,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock traded up $0.18 during trading hours on Thursday, reaching $19.14. The company's stock had a trading volume of 242,541 shares, compared to its average volume of 419,443. The company's 50 day simple moving average is $18.28 and its 200 day simple moving average is $17.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. Alexander & Baldwin Holdings, Inc. has a one year low of $15.70 and a one year high of $20.11. The stock has a market cap of $1.39 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07.

Alexander & Baldwin Announces Dividend

The firm 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. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 12th. Alexander & Baldwin's dividend payout ratio (DPR) is presently 84.11%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.00.

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.