Bank of New York Mellon Corp Increases Stock Position in Alexander & Baldwin Holdings, Inc. $ALEX

Bank of New York Mellon Corp grew its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 663,380 shares of the financial services provider’s stock after purchasing an additional 22,735 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alexander & Baldwin were worth $11,828,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALEX. PNC Financial Services Group Inc. boosted its position in shares of Alexander & Baldwin by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,810 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 621 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Alexander & Baldwin by 3.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 34,193 shares of the financial services provider’s stock valued at $589,000 after buying an additional 1,033 shares during the last quarter. Quarry LP lifted its stake in Alexander & Baldwin by 32.3% in the first quarter. Quarry LP now owns 4,264 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,042 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Alexander & Baldwin by 76.7% in the second quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 1,069 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Alexander & Baldwin by 1.2% during the second quarter. Public Employees Retirement System of Ohio now owns 105,005 shares of the financial services provider’s stock worth $1,872,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ALEX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander & Baldwin in a research report on Thursday, November 13th. Piper Sandler set a $21.00 price objective on shares of Alexander & Baldwin in a research note on Monday, November 3rd. Finally, JMP Securities reiterated 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.00.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $15.75 on Wednesday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.39 and a 1 year high of $19.95. The company’s fifty day moving average is $17.07 and its two-hundred day moving average is $17.74.

Alexander & Baldwin (NYSE:ALEX) last issued its earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a net margin of 33.94% and a return on equity of 7.81%. The firm had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $50.69 million. On average, sell-side analysts predict that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin 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.