Intech Investment Management LLC Sells 2,516 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Intech Investment Management LLC trimmed its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX) by 16.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,703 shares of the financial services provider’s stock after selling 2,516 shares during the quarter. Intech Investment Management LLC’s holdings in Alexander & Baldwin were worth $244,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in Alexander & Baldwin by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,739 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 2,613 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of Alexander & Baldwin by 1.6% in the second quarter. Reinhart Partners LLC. now owns 2,481,672 shares of the financial services provider’s stock worth $42,089,000 after purchasing an additional 38,948 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Alexander & Baldwin by 3.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,399 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 2,795 shares in the last quarter. Summit Global Investments lifted its position in shares of Alexander & Baldwin by 43.6% in the second quarter. Summit Global Investments now owns 42,262 shares of the financial services provider’s stock worth $717,000 after buying an additional 12,830 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Alexander & Baldwin by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after buying an additional 600 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Alliance Global Partners started coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.67.

Alexander & Baldwin Stock Performance

NYSE:ALEX opened at $19.42 on Friday. The firm has a market capitalization of $1.41 billion, a PE ratio of 31.32 and a beta of 1.27. The stock’s fifty day moving average is $19.07 and its 200 day moving average is $18.44. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

About Alexander & Baldwin

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.