Bank of New York Mellon Corp Sells 31,109 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Bank of New York Mellon Corp reduced its position in Alexander & Baldwin, Inc. (NYSE:ALEX) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 785,580 shares of the financial services provider’s stock after selling 31,109 shares during the period. Bank of New York Mellon Corp owned 1.08% of Alexander & Baldwin worth $14,855,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Alexander & Baldwin by 126.5% during the first quarter. American Century Companies Inc. now owns 37,890 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 21,161 shares in the last quarter. Citigroup Inc. lifted its holdings in Alexander & Baldwin by 25.8% during the 1st quarter. Citigroup Inc. now owns 115,180 shares of the financial services provider’s stock worth $2,671,000 after purchasing an additional 23,639 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Alexander & Baldwin by 38.2% in the 1st quarter. MetLife Investment Management LLC now owns 37,273 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 10,311 shares during the period. Rhumbline Advisers grew its holdings in Alexander & Baldwin by 0.5% during the 1st quarter. Rhumbline Advisers now owns 222,242 shares of the financial services provider’s stock valued at $5,154,000 after buying an additional 1,058 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Alexander & Baldwin by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,528 shares of the financial services provider’s stock valued at $1,450,000 after buying an additional 7,710 shares in the last quarter. 84.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Alexander & Baldwin in a research note on Thursday, August 17th. They issued a “hold” rating on the stock.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $18.14 on Thursday. Alexander & Baldwin, Inc. has a 12-month low of $15.80 and a 12-month high of $20.75. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.32 billion, a PE ratio of -27.91 and a beta of 1.31. The stock has a 50-day moving average price of $18.56 and a 200-day moving average price of $18.65.

Alexander & Baldwin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Monday, September 18th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 15th. This represents a $0.88 annualized dividend and a yield of 4.85%. Alexander & Baldwin’s payout ratio is presently -135.38%.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground leases.