VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Alexander & Baldwin Holdings, Inc. $ALEX

Key Points

• The Virginia Retirement Systems acquired a new stake in Alexander & Baldwin Holdings, Inc., purchasing 220,900 shares valued at approximately $3,939,000, representing a 0.30% ownership in the company.
• Several institutional investors, including CWM LLC and State of Alaska Department of Revenue, have also increased their holdings in Alexander & Baldwin during the second quarter, indicating strong institutional interest.
• Analyst ratings for Alexander & Baldwin show a consensus of "Hold" with an average target price of $24.00, after recent downgrades from some analysts.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 220,900 shares of the financial services provider's stock, valued at approximately $3,939,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.30% of Alexander & Baldwin at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC raised its holdings in Alexander & Baldwin by 188.2% in the 2nd quarter. CWM LLC now owns 3,213 shares of the financial services provider's stock worth $57,000 after purchasing an additional 2,098 shares during the period. Inspire Investing LLC boosted its position in shares of Alexander & Baldwin by 9.9% during the second quarter. Inspire Investing LLC now owns 22,006 shares of the financial services provider's stock valued at $392,000 after buying an additional 1,979 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Alexander & Baldwin by 4.6% during the second quarter. State of Alaska Department of Revenue now owns 78,642 shares of the financial services provider's stock valued at $1,400,000 after acquiring an additional 3,461 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Alexander & Baldwin by 1.2% during the second quarter. Public Employees Retirement System of Ohio now owns 105,005 shares of the financial services provider's stock valued at $1,872,000 after acquiring an additional 1,210 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Alexander & Baldwin by 55.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,989 shares of the financial services provider's stock valued at $339,000 after acquiring an additional 6,794 shares in the last quarter. 91.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ALEX shares. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. Weiss Ratings lowered shares of Alexander & Baldwin from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Alexander & Baldwin currently has a consensus rating of "Hold" and an average target price of $24.00.

Alexander & Baldwin Trading Up 1.4%

Shares of Alexander & Baldwin stock opened at $16.93 on Tuesday. The firm has a 50-day simple moving average of $18.22 and a two-hundred day simple moving average of $17.80. The company has a market cap of $1.23 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. Alexander & Baldwin Holdings, Inc. has a fifty-two week low of $15.70 and a fifty-two week high of $19.97. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th were given a $0.225 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.3%. Alexander & Baldwin's dividend payout ratio is 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.

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