Alexander & Baldwin, Inc. (NYSE:ALEX) Stock Holdings Lessened by Summit Global Investments

Summit Global Investments reduced its stake in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,283 shares of the financial services provider’s stock after selling 979 shares during the quarter. Summit Global Investments owned approximately 0.06% of Alexander & Baldwin worth $793,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. acquired a new stake in shares of Alexander & Baldwin during the 1st quarter valued at $2,289,000. Clearbridge Investments LLC boosted its position in Alexander & Baldwin by 24.4% during the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in Alexander & Baldwin in the second quarter valued at about $948,000. Harbor Capital Advisors Inc. increased its position in Alexander & Baldwin by 101.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares during the last quarter. Finally, Reinhart Partners LLC. raised its stake in shares of Alexander & Baldwin by 2.9% during the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after purchasing an additional 72,240 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Stock Up 0.8 %

ALEX opened at $19.72 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of 31.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The business has a 50 day moving average price of $19.09 and a 200 day moving average price of $18.07. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30.

Analyst Ratings Changes

Several brokerages recently commented on ALEX. Piper Sandler reissued an “overweight” rating and issued a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 target price for the company. Finally, StockNews.com downgraded shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.