Pekin Hardy Strauss Inc. Acquires 8,470 Shares of Alexander & Baldwin Holdings, Inc. $ALEX

Pekin Hardy Strauss Inc. lifted its holdings in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,194 shares of the financial services provider’s stock after acquiring an additional 8,470 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Alexander & Baldwin were worth $5,495,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALEX. Bank of New York Mellon Corp lifted its holdings in Alexander & Baldwin by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 663,380 shares of the financial services provider’s stock worth $11,828,000 after purchasing an additional 22,735 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Alexander & Baldwin by 1.4% during the second quarter. Pinnacle Associates Ltd. now owns 175,922 shares of the financial services provider’s stock worth $3,137,000 after acquiring an additional 2,467 shares during the last quarter. Jennison Associates LLC grew its stake in Alexander & Baldwin by 42.0% during the second quarter. Jennison Associates LLC now owns 83,018 shares of the financial services provider’s stock valued at $1,480,000 after acquiring an additional 24,557 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Alexander & Baldwin by 23.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 41,942 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 7,997 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Alexander & Baldwin by 198.1% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 101,922 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 67,729 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALEX shares. Piper Sandler set a $21.00 price objective on Alexander & Baldwin in a research report on Monday. Weiss Ratings lowered Alexander & Baldwin from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Alexander & Baldwin Trading Down 0.3%

ALEX opened at $15.69 on Friday. The stock’s 50 day moving average price is $17.61 and its 200-day moving average price is $17.79. Alexander & Baldwin Holdings, Inc. has a one year low of $15.51 and a one year high of $19.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.47 and a beta of 1.09.

Alexander & Baldwin Company Profile

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.