Oppenheimer Asset Management Inc. Purchases 683 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Oppenheimer Asset Management Inc. boosted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,732 shares of the financial services provider’s stock after purchasing an additional 683 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Alexander & Baldwin were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its stake in Alexander & Baldwin by 24.4% in the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after buying an additional 122,286 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock worth $18,536,000 after purchasing an additional 29,006 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Alexander & Baldwin during the second quarter worth $948,000. Harbor Capital Advisors Inc. increased its position in shares of Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after acquiring an additional 111,392 shares in the last quarter. Finally, Reinhart Partners LLC. increased its holdings in 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 currently owned by institutional investors.

Alexander & Baldwin Stock Up 0.1 %

Shares of NYSE ALEX opened at $19.48 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.02 and a beta of 1.26. The business has a 50-day moving average of $19.09 and a 200-day moving average of $18.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALEX. Piper Sandler reiterated an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, Alliance Global Partners initiated coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They set a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Alexander & Baldwin currently has a consensus rating of “Moderate Buy” and an average price target of $21.67.

Alexander & Baldwin 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.