Alexander & Baldwin Holdings, Inc. (ALEX) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) from a hold rating to a buy rating in a research note released on Tuesday morning.

Shares of Alexander & Baldwin Holdings (NYSE ALEX) opened at 44.80 on Tuesday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 227.41 and a beta of 1.44. The firm’s 50-day moving average price is $43.33 and its 200 day moving average price is $43.00. Alexander & Baldwin Holdings has a 52 week low of $36.98 and a 52 week high of $46.87.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 3rd. Alexander & Baldwin Holdings’s dividend payout ratio (DPR) is presently 133.33%.

In other Alexander & Baldwin Holdings news, Director Stanley M. Kuriyama sold 4,250 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $43.45, for a total transaction of $184,662.50. Following the completion of the transaction, the director now owns 255,883 shares of the company’s stock, valued at approximately $11,118,116.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 12,750 shares of company stock valued at $547,825 in the last three months. Insiders own 7.60% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in shares of Alexander & Baldwin Holdings by 1.0% in the 2nd quarter. IFP Advisors Inc now owns 2,606 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 26 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Alexander & Baldwin Holdings by 0.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 17,265 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 97 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Alexander & Baldwin Holdings by 0.5% in the 1st quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock valued at $855,000 after acquiring an additional 101 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Alexander & Baldwin Holdings by 2.5% in the 2nd quarter. Amalgamated Bank now owns 6,627 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 162 shares during the last quarter. Finally, Advantus Capital Management Inc lifted its holdings in shares of Alexander & Baldwin Holdings by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 5,907 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 181 shares during the last quarter. 74.60% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Holdings Company Profile

Alexander & Baldwin, Inc (A&B) is a real estate company. The Company operates through three segments: Commercial Real Estate, Land Operations, and Materials and Construction. In addition to its 15 retail centers in Hawaii, the Company owned seven industrial assets, seven office properties and a portfolio of urban ground leases comprising 106 acres in Hawaii, as of December 31, 2016.

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