Northern Trust Corp Has $17.31 Million Position in Alexander & Baldwin Holdings, Inc. $ALEX

Key Points

• Northern Trust Corp sold 16,085 shares of Alexander & Baldwin Holdings, reducing its holdings by 1.6%, now owning 1,004,760 shares valued at approximately $17.3 million.
• Vanguard Group Inc. increased its stake in Alexander & Baldwin by 1.5%, owning over 11.6 million shares valued at $200.7 million, demonstrating interest from institutional investors.
• A quarterly dividend of $0.225 per share will be paid on October 7, representing an annualized yield of 4.7% and a payout ratio of 84.11%.

Northern Trust Corp reduced its stake in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004,760 shares of the financial services provider's stock after selling 16,085 shares during the period. Northern Trust Corp owned about 1.38% of Alexander & Baldwin worth $17,312,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ALEX. Raymond James Financial Inc. acquired a new position in shares of Alexander & Baldwin in the 4th quarter valued at about $272,000. Dimensional Fund Advisors LP boosted its holdings in shares of Alexander & Baldwin by 165.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 293,078 shares of the financial services provider's stock valued at $5,199,000 after buying an additional 182,845 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alexander & Baldwin by 21.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,974 shares of the financial services provider's stock valued at $514,000 after buying an additional 5,150 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Alexander & Baldwin by 174.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 67,720 shares of the financial services provider's stock valued at $1,201,000 after buying an additional 43,090 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Alexander & Baldwin by 61.5% in the 4th quarter. Jane Street Group LLC now owns 152,759 shares of the financial services provider's stock valued at $2,710,000 after buying an additional 58,143 shares during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock traded up $0.18 on Thursday, reaching $19.14. The stock had a trading volume of 242,541 shares, compared to its average volume of 273,949. The business's 50-day moving average price is $18.30 and its two-hundred day moving average price is $17.74. 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 fifty-two week low of $15.70 and a fifty-two week 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 1.70 and a beta of 1.07.

Alexander & Baldwin Dividend Announcement

The company 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 4.7%. The ex-dividend date is Friday, September 12th. Alexander & Baldwin's payout ratio is presently 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.