Panagora Asset Management Inc. Acquires 169,009 Shares of Alexander & Baldwin Holdings, Inc. $ALEX

Panagora Asset Management Inc. raised its stake in Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 68.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 415,452 shares of the financial services provider’s stock after buying an additional 169,009 shares during the quarter. Panagora Asset Management Inc.’s holdings in Alexander & Baldwin were worth $7,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new position in shares of Alexander & Baldwin in the first quarter valued at about $1,535,000. Natixis Advisors LLC acquired a new position in Alexander & Baldwin in the 1st quarter worth about $304,000. US Bancorp DE lifted its position in shares of Alexander & Baldwin by 468.6% during the 1st quarter. US Bancorp DE now owns 6,795 shares of the financial services provider’s stock valued at $117,000 after buying an additional 5,600 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Alexander & Baldwin by 3.2% in the first 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. Finally, Vanguard Group Inc. increased its stake in Alexander & Baldwin by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider’s stock worth $200,732,000 after buying an additional 172,992 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Stock Down 0.8%

Alexander & Baldwin stock opened at $15.43 on Wednesday. The stock has a 50 day moving average of $16.49 and a two-hundred day moving average of $17.60. Alexander & Baldwin Holdings, Inc. has a twelve month low of $15.34 and a twelve month high of $19.76. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.39 and a beta of 1.00.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Friday, October 31st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%.The business had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. As a group, research analysts expect that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALEX shares. Piper Sandler set a $21.00 target price on shares of Alexander & Baldwin in a research report on Monday, November 3rd. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alexander & Baldwin in a research report on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Alexander & Baldwin currently has an average rating of “Hold” and a consensus target price of $21.00.

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.