Bank of Hawaii trimmed its stake in Alexander & Baldwin Inc (NYSE:ALEX) by 0.9% in the second quarter, Holdings Channel.com reports. The firm owned 145,095 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. Bank of Hawaii’s holdings in Alexander & Baldwin were worth $3,352,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in Alexander & Baldwin during the second quarter valued at approximately $33,000. DekaBank Deutsche Girozentrale acquired a new position in Alexander & Baldwin during the second quarter valued at approximately $35,000. Quantamental Technologies LLC acquired a new position in Alexander & Baldwin during the second quarter valued at approximately $59,000. Point72 Asset Management L.P. acquired a new position in Alexander & Baldwin during the second quarter valued at approximately $88,000. Finally, Point72 Hong Kong Ltd acquired a new position in Alexander & Baldwin during the second quarter valued at approximately $120,000. 76.66% of the stock is owned by institutional investors and hedge funds.
ALEX stock traded up $0.10 during midday trading on Friday, hitting $24.97. 540,652 shares of the company traded hands, compared to its average volume of 194,442. Alexander & Baldwin Inc has a twelve month low of $17.58 and a twelve month high of $25.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $23.52.
Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.15). Alexander & Baldwin had a negative net margin of 17.28% and a negative return on equity of 9.07%. The company had revenue of $109.10 million for the quarter, compared to analyst estimates of $104.63 million. During the same quarter last year, the business earned $0.03 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 12th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.76 annualized dividend and a yield of 3.04%.
In other news, Director Stanley M. Kuriyama sold 6,300 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $22.35, for a total value of $140,805.00. Following the sale, the director now owns 325,535 shares in the company, valued at $7,275,707.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director W Allen Doane, Jr. sold 8,529 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $22.61, for a total transaction of $192,840.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,729 shares of company stock worth $1,009,483. Corporate insiders own 6.40% of the company’s stock.
Alexander & Baldwin Profile
Alexander & Baldwin, Inc is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages approximately 3.5 million square feet of primarily retail and industrial space in Hawai`i, and is a major landowner in the state.
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