Baker Ellis Asset Management LLC cut its holdings in Alexander & Baldwin Inc (NYSE:ALEX) by 32.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,180 shares of the financial services provider’s stock after selling 5,471 shares during the period. Baker Ellis Asset Management LLC’s holdings in Alexander & Baldwin were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in ALEX. Ceredex Value Advisors LLC bought a new position in Alexander & Baldwin during the first quarter valued at $23,560,000. Nuveen Asset Management LLC grew its holdings in Alexander & Baldwin by 901.5% during the first quarter. Nuveen Asset Management LLC now owns 800,899 shares of the financial services provider’s stock valued at $18,524,000 after purchasing an additional 720,930 shares during the period. Oakview Capital Management L.P. bought a new position in Alexander & Baldwin during the first quarter valued at $15,517,000. Dimensional Fund Advisors LP grew its holdings in Alexander & Baldwin by 27.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,989,540 shares of the financial services provider’s stock valued at $69,148,000 after purchasing an additional 647,546 shares during the period. Finally, Northern Trust Corp grew its holdings in Alexander & Baldwin by 44.0% during the first quarter. Northern Trust Corp now owns 1,005,117 shares of the financial services provider’s stock valued at $23,248,000 after purchasing an additional 306,894 shares during the period. 74.94% of the stock is owned by institutional investors.
In other news, Director W Allen Doane, Jr. sold 11,250 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $23.14, for a total value of $260,325.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley M. Kuriyama sold 6,300 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $22.96, for a total value of $144,648.00. Following the completion of the transaction, the director now directly owns 368,639 shares of the company’s stock, valued at $8,463,951.44. The disclosure for this sale can be found here. Insiders sold 30,150 shares of company stock valued at $711,027 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.
Alexander & Baldwin stock opened at $23.15 on Friday. Alexander & Baldwin Inc has a one year low of $20.83 and a one year high of $46.96. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.59.
Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.09). Alexander & Baldwin had a return on equity of 6.28% and a net margin of 58.20%. The company had revenue of $112.10 million during the quarter, compared to the consensus estimate of $99.93 million. During the same period in the previous year, the business earned $0.09 earnings per share. Alexander & Baldwin’s revenue was up 14.3% on a year-over-year basis.
Separately, TheStreet lowered Alexander & Baldwin from a “c” rating to a “d+” rating in a report on Monday, August 6th.
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. With a portfolio of approximately 87,000 acres in Hawai`i, A&B is the state's fourth largest private landowner. A&B is a fully integrated real estate investment trust and owns, operates and manages 3.3 million square feet of primarily retail and industrial space in Hawai`i.
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