MetLife Investment Management LLC Decreases Stock Holdings in Alexander & Baldwin Holdings, Inc. $ALEX

MetLife Investment Management LLC lowered its position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,822 shares of the financial services provider’s stock after selling 855 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Alexander & Baldwin worth $790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its stake in Alexander & Baldwin by 321.2% in the 4th quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider’s stock worth $6,302,000 after buying an additional 270,907 shares during the period. Northern Trust Corp increased its stake in Alexander & Baldwin by 23.5% in the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock worth $18,110,000 after buying an additional 194,534 shares during the period. HighTower Advisors LLC increased its stake in Alexander & Baldwin by 39.1% in the 1st quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider’s stock worth $1,429,000 after buying an additional 23,322 shares during the period. GAMMA Investing LLC increased its stake in Alexander & Baldwin by 2,211.5% in the 1st quarter. GAMMA Investing LLC now owns 33,909 shares of the financial services provider’s stock worth $584,000 after buying an additional 32,442 shares during the period. Finally, Diversified Trust Co purchased a new position in Alexander & Baldwin in the 1st quarter worth about $606,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Trading Up 1.4%

NYSE:ALEX opened at $19.42 on Friday. Alexander & Baldwin Holdings, Inc. has a 52 week low of $15.70 and a 52 week high of $20.11. The firm has a 50 day moving average of $18.33 and a 200 day moving average of $17.75. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.74 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. Shareholders of record on Friday, September 12th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a yield of 4.6%. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 84.11%.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.