BlackRock Advisors LLC boosted its stake in Alexander & Baldwin (NYSE:ALEX) by 6.5% during the second quarter, Holdings Channel reports. The institutional investor owned 190,248 shares of the company’s stock after buying an additional 11,622 shares during the period. BlackRock Advisors LLC owned 0.39% of Alexander & Baldwin worth $6,876,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALEX. Nisa Investment Advisors LLC raised its position in Alexander & Baldwin by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 32,240 shares of the company’s stock valued at $1,165,000 after buying an additional 100 shares in the last quarter. State Treasurer State of Michigan raised its position in Alexander & Baldwin by 1.1% in the second quarter. State Treasurer State of Michigan now owns 18,520 shares of the company’s stock valued at $669,000 after buying an additional 200 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of Alexander & Baldwin by 4.0% in the second quarter. OLD National Bancorp IN now owns 6,048 shares of the company’s stock valued at $219,000 after buying an additional 233 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Alexander & Baldwin by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 32,936 shares of the company’s stock valued at $1,190,000 after buying an additional 331 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Alexander & Baldwin by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,039 shares of the company’s stock valued at $544,000 after buying an additional 373 shares during the last quarter. Institutional investors and hedge funds own 77.00% of the company’s stock.
Shares of Alexander & Baldwin (NYSE:ALEX) opened at 37.57 on Friday. The firm’s market capitalization is $1.84 billion. The stock has a 50 day moving average price of $38.75 and a 200 day moving average price of $37.95. Alexander & Baldwin has a 52 week low of $28.82 and a 52 week high of $42.80.
Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.19. The business earned $102.70 million during the quarter, compared to analyst estimates of $159.09 million. Alexander & Baldwin had a negative net margin of 2.87% and a positive return on equity of 3.17%. The company’s revenue was down 33.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. Equities analysts forecast that Alexander & Baldwin will post $0.97 earnings per share for the current fiscal year.
Separately, JMP Securities cut Alexander & Baldwin from an “outperform” rating to a “market perform” rating and set a $44.00 price objective on the stock. in a research note on Friday, August 26th. They noted that the move was a valuation call.
In other Alexander & Baldwin news, insider Stanley M. Kuriyama sold 4,250 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $40.82, for a total value of $173,485.00. Following the completion of the transaction, the insider now directly owns 233,700 shares in the company, valued at approximately $9,539,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by company insiders.
Alexander & Baldwin Company Profile
Alexander & Baldwin, Inc (A&B) is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Company operates in four segments: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. Real estate activities are conducted through A&B Properties, Inc and other subsidiaries of A&B.
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