Victory Capital Management Inc. boosted its stake in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 965,435 shares of the financial services provider's stock after purchasing an additional 29,006 shares during the period. Victory Capital Management Inc. owned about 1.33% of Alexander & Baldwin worth $18,536,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Clearbridge Investments LLC increased its position in Alexander & Baldwin by 24.4% during the 1st 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 period. Harbor Capital Advisors Inc. lifted its holdings in Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider's stock valued at $4,256,000 after buying an additional 111,392 shares during the period. Hantz Financial Services Inc. bought a new stake in Alexander & Baldwin during the second quarter valued at $1,386,000. Reinhart Partners LLC. raised its position in shares of Alexander & Baldwin by 2.9% in the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider's stock worth $49,035,000 after acquiring an additional 72,240 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Alexander & Baldwin by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 11,725,230 shares of the financial services provider's stock worth $193,115,000 after acquiring an additional 71,797 shares in the last quarter. Institutional investors own 91.29% of the company's stock.
Alexander & Baldwin Stock Up 1.3 %
Shares of ALEX traded up $0.25 during trading hours on Tuesday, reaching $19.47. The stock had a trading volume of 164,624 shares, compared to its average volume of 321,119. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 31.40 and a beta of 1.26. The firm has a 50-day simple moving average of $19.09 and a 200 day simple moving average of $18.21. 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.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on ALEX. Piper Sandler reaffirmed an "overweight" rating and set a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Alliance Global Partners began coverage on shares of Alexander & Baldwin in a report on Thursday, August 8th. They issued a "buy" rating and a $22.00 price target for the company. Finally, StockNews.com upgraded shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $21.67.
Check Out Our Latest Analysis on ALEX
Alexander & Baldwin Profile
(
Free Report)
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.
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