Pekin Hardy Strauss Inc. Sells 18,877 Shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX)

Pekin Hardy Strauss Inc. decreased its stake in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 299,724 shares of the financial services provider's stock after selling 18,877 shares during the period. Pekin Hardy Strauss Inc. owned 0.41% of Alexander & Baldwin worth $5,164,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ALEX. Smartleaf Asset Management LLC lifted its stake in shares of Alexander & Baldwin by 284.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,239 shares during the period. Wealthfront Advisers LLC acquired a new stake in Alexander & Baldwin in the fourth quarter valued at approximately $112,000. XTX Topco Ltd acquired a new position in Alexander & Baldwin during the fourth quarter worth $206,000. PharVision Advisers LLC purchased a new stake in shares of Alexander & Baldwin in the fourth quarter worth approximately $209,000. Finally, Aigen Investment Management LP purchased a new stake in Alexander & Baldwin in the 4th quarter valued at $227,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Stock Performance

ALEX stock traded up $0.08 during midday trading on Tuesday, reaching $17.88. 72,009 shares of the company's stock traded hands, compared to its average volume of 396,673. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.31 and a current ratio of 0.31. Alexander & Baldwin Holdings, Inc. has a 52 week low of $15.70 and a 52 week high of $20.30. The firm has a market capitalization of $1.30 billion, a PE ratio of 21.04 and a beta of 1.01. The company has a 50-day moving average price of $17.75 and a two-hundred day moving average price of $17.53.

Alexander & Baldwin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 13th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, June 13th. Alexander & Baldwin's dividend payout ratio is presently 105.88%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Alexander & Baldwin from a "buy" rating to a "hold" rating in a report on Sunday, March 16th.

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.