JPMorgan Chase & Co. Decreases Holdings in Alexander & Baldwin Holdings, Inc. $ALEX

JPMorgan Chase & Co. trimmed its position in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,483,776 shares of the financial services provider’s stock after selling 31,528 shares during the quarter. JPMorgan Chase & Co.’s holdings in Alexander & Baldwin were worth $26,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. grew its holdings in shares of Alexander & Baldwin by 3.0% in the third quarter. 1620 Investment Advisors Inc. now owns 21,850 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 637 shares during the period. Amalgamated Bank lifted its holdings in Alexander & Baldwin by 3.3% in the third quarter. Amalgamated Bank now owns 21,401 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 682 shares during the period. Polymer Capital Management US LLC boosted its position in Alexander & Baldwin by 4.2% in the third quarter. Polymer Capital Management US LLC now owns 17,293 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 703 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Alexander & Baldwin by 3.5% in the second quarter. Daiwa Securities Group Inc. now owns 25,974 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 884 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Alexander & Baldwin by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 37,613 shares of the financial services provider’s stock valued at $671,000 after buying an additional 911 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler lowered Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research note on Tuesday, December 9th. Alliance Global Partners downgraded shares of Alexander & Baldwin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. iA Financial set a $20.85 price objective on Alexander & Baldwin in a research report on Wednesday, December 10th. Weiss Ratings upgraded Alexander & Baldwin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, January 30th. Finally, Janney Montgomery Scott lowered Alexander & Baldwin from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.95.

Alexander & Baldwin Stock Performance

ALEX opened at $20.84 on Tuesday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 20.63 and a beta of 0.90. The stock’s 50 day moving average price is $20.79 and its 200-day moving average price is $18.91. Alexander & Baldwin Holdings, Inc. has a one year low of $15.07 and a one year high of $21.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.27 and a current ratio of 0.27.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Friday, February 27th. The financial services provider reported $0.05 earnings per share for the quarter. Alexander & Baldwin had a return on equity of 6.43% and a net margin of 31.29%.The firm had revenue of $50.99 million for the quarter. On average, equities analysts forecast that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

About Alexander & Baldwin

Founded in 1870 by Samuel T. Alexander and Henry P. Baldwin as a sugarcane plantation on Maui, Alexander & Baldwin, Inc (NYSE: ALEX) today operates as a Hawai‘i-focused real estate investment trust headquartered in Honolulu. The company transitioned from its agricultural origins into a diversified real estate owner, operator and developer, completing its conversion to a REIT structure in late 2019 to align its corporate governance with its core property portfolio.

Alexander & Baldwin’s commercial real estate arm spans office, retail, industrial and hospitality properties across the four major Hawaiian Islands.