Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) Announces Quarterly Dividend of $0.35

by · The Cerbat Gem

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX – Get Free Report) declared a quarterly dividend on Monday, December 8th. Investors of record on Friday, December 19th will be paid a dividend of 0.35 per share by the financial services provider on Thursday, January 8th. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, December 19th. This is a 55.6% increase from Alexander & Baldwin’s previous quarterly dividend of $0.23.

Alexander & Baldwin has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Alexander & Baldwin has a payout ratio of 126.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Alexander & Baldwin to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 80.4%.

Alexander & Baldwin Price Performance

ALEX opened at $20.92 on Wednesday. The company has a fifty day moving average price of $16.32 and a two-hundred day moving average price of $17.56. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $1.52 billion, a PE ratio of 20.71, a P/E/G ratio of 1.36 and a beta of 1.00. Alexander & Baldwin has a 52 week low of $15.07 and a 52 week high of $20.97.

Alexander & Baldwin (NYSE:ALEX – Get Free Report) last released its quarterly earnings data on Friday, October 31st. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The company had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.69 million. Alexander & Baldwin had a net margin of 33.62% and a return on equity of 7.29%. As a group, analysts anticipate that Alexander & Baldwin will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC raised its position in Alexander & Baldwin by 39.1% during the first quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 23,322 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Alexander & Baldwin by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider’s stock valued at $200,732,000 after acquiring an additional 172,992 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Alexander & Baldwin by 47.1% during the first quarter. Voya Investment Management LLC now owns 118,892 shares of the financial services provider’s stock valued at $2,049,000 after purchasing an additional 38,092 shares in the last quarter. US Bancorp DE grew its holdings in Alexander & Baldwin by 468.6% during the 1st quarter. US Bancorp DE now owns 6,795 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Alexander & Baldwin by 68.6% in the second quarter. Panagora Asset Management Inc. now owns 415,452 shares of the financial services provider’s stock worth $7,408,000 after purchasing an additional 169,009 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

(Get Free Report)

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.

Featured Stories