Principal Financial Group Inc. lifted its stake in shares of Alexander & Baldwin Inc (NYSE:ALEX) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,424 shares of the financial services provider’s stock after purchasing an additional 28,985 shares during the period. Principal Financial Group Inc.’s holdings in Alexander & Baldwin were worth $6,653,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of Alexander & Baldwin by 117.7% during the third quarter. Parallel Advisors LLC now owns 1,043 shares of the financial services provider’s stock valued at $26,000 after buying an additional 564 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Alexander & Baldwin during the third quarter valued at $234,000. Violich Capital Management Inc. purchased a new position in shares of Alexander & Baldwin during the fourth quarter valued at $219,000. Voloridge Investment Management LLC purchased a new position in shares of Alexander & Baldwin during the third quarter valued at $346,000. Finally, Cadinha & Co. LLC purchased a new position in shares of Alexander & Baldwin during the third quarter valued at $366,000. Institutional investors and hedge funds own 80.87% of the company’s stock.
Shares of ALEX stock traded down $0.72 on Friday, reaching $19.17. 11,846 shares of the company’s stock traded hands, compared to its average volume of 1,131,267. Alexander & Baldwin Inc has a 12-month low of $19.84 and a 12-month high of $25.69. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $1.55 billion, a P/E ratio of -37.65 and a beta of 1.06. The business’s 50 day moving average price is $22.02 and its two-hundred day moving average price is $22.63.
In other Alexander & Baldwin news, Director Stanley M. Kuriyama sold 6,300 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $21.65, for a total value of $136,395.00. Following the transaction, the director now owns 334,136 shares in the company, valued at $7,234,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.
ALEX has been the topic of a number of research analyst reports. ValuEngine upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Piper Sandler lowered their price target on Alexander & Baldwin from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday.
About Alexander & Baldwin
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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