Alexander & Baldwin (NYSE:ALEX) Lowered to "Hold" Rating by StockNews.com

Alexander & Baldwin (NYSE:ALEX - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

ALEX has been the topic of a number of other research reports. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler boosted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th.

Alexander & Baldwin Trading Down 0.4 %

NYSE:ALEX traded down $0.07 on Friday, reaching $17.39. The company's stock had a trading volume of 179,372 shares, compared to its average volume of 326,917. The firm has a market cap of $1.26 billion, a PE ratio of 28.06 and a beta of 1.27. 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's 50-day moving average price is $17.75 and its two-hundred day moving average price is $18.52. Alexander & Baldwin has a 1-year low of $15.53 and a 1-year high of $20.30.

Alexander & Baldwin (NYSE:ALEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Equities research analysts anticipate that Alexander & Baldwin will post 1.35 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new stake in Alexander & Baldwin in the 4th quarter valued at about $7,722,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alexander & Baldwin by 386.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider's stock valued at $9,240,000 after buying an additional 382,327 shares during the last quarter. State Street Corp boosted its stake in shares of Alexander & Baldwin by 9.4% during the 3rd quarter. State Street Corp now owns 4,228,089 shares of the financial services provider's stock worth $82,033,000 after acquiring an additional 363,223 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alexander & Baldwin by 51.0% during the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider's stock worth $15,612,000 after acquiring an additional 297,044 shares during the last quarter. Finally, Norges Bank acquired a new stake in Alexander & Baldwin during the 4th quarter valued at $5,236,000. Institutional investors own 91.29% of the company's stock.

About Alexander & Baldwin

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.