River Road Asset Management LLC cut its position in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 20.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,788 shares of the financial services provider’s stock after selling 6,497 shares during the quarter. River Road Asset Management LLC’s holdings in Alexander & Baldwin were worth $715,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cramer Rosenthal Mcglynn LLC bought a new position in Alexander & Baldwin in the 3rd quarter valued at about $21,704,000. Bamco Inc. NY bought a new position in Alexander & Baldwin in the 3rd quarter valued at about $6,718,000. Miller Howard Investments Inc. NY bought a new position in Alexander & Baldwin in the 4th quarter valued at about $2,774,000. Asset Management One Co. Ltd. bought a new position in Alexander & Baldwin in the 3rd quarter valued at about $4,481,000. Finally, Retirement Systems of Alabama lifted its position in Alexander & Baldwin by 141.2% in the 3rd quarter. Retirement Systems of Alabama now owns 143,626 shares of the financial services provider’s stock valued at $6,654,000 after acquiring an additional 84,068 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.
In other Alexander & Baldwin news, CEO Christopher J. Benjamin sold 10,000 shares of Alexander & Baldwin stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $28.85, for a total transaction of $288,500.00. Following the transaction, the chief executive officer now owns 555 shares of the company’s stock, valued at approximately $16,011.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley M. Kuriyama sold 4,250 shares of Alexander & Baldwin stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $43.56, for a total transaction of $185,130.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,550 shares of company stock worth $790,815. Insiders own 7.60% of the company’s stock.
Alexander & Baldwin (NYSE:ALEX) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.21 earnings per share for the quarter. Alexander & Baldwin had a net margin of 4.15% and a return on equity of 3.89%. The business had revenue of $111.50 million for the quarter.
The company also recently announced a special dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Wednesday, November 29th were given a dividend of $15.92 per share. The ex-dividend date of this dividend was Tuesday, November 28th. This is a boost from Alexander & Baldwin’s previous special dividend of $0.04. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 37.84%.
Several equities analysts recently weighed in on the stock. TheStreet cut shares of Alexander & Baldwin from a “b-” rating to a “c” rating in a research report on Tuesday, November 28th. BidaskClub raised shares of Alexander & Baldwin from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 14th.
Alexander & Baldwin 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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