KLP Kapitalforvaltning AS decreased its holdings in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX – Free Report) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,556 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Alexander & Baldwin were worth $244,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Alexander & Baldwin by 3.2% during the first quarter. PNC Financial Services Group Inc. now owns 19,810 shares of the financial services provider’s stock worth $341,000 after buying an additional 621 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Alexander & Baldwin by 3.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 34,193 shares of the financial services provider’s stock worth $589,000 after buying an additional 1,033 shares in the last quarter. Quarry LP grew its holdings in shares of Alexander & Baldwin by 32.3% during the first quarter. Quarry LP now owns 4,264 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,042 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Alexander & Baldwin by 76.7% during the second quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,069 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Alexander & Baldwin by 1.2% in 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 purchasing an additional 1,210 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on ALEX. Weiss Ratings lowered shares of Alexander & Baldwin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.00.
Alexander & Baldwin Stock Up 1.4%
Shares of ALEX opened at $16.93 on Tuesday. The stock has a market capitalization of $1.23 billion, a PE ratio of 15.82, a P/E/G ratio of 1.49 and a beta of 1.04. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.70 and a 1 year 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. The company’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $17.80.
Alexander & Baldwin Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Friday, September 12th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.90 annualized dividend and a yield of 5.3%. Alexander & Baldwin’s dividend payout ratio (DPR) is 84.11%.
Alexander & Baldwin 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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