Alexander & Baldwin Inc (NYSE:ALEX) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of Alexander & Baldwin Inc (NYSE:ALEX) from a hold rating to a sell rating in a research note issued to investors on Wednesday, October 18th.

Alexander & Baldwin (NYSE:ALEX) traded up $0.47 during trading hours on Wednesday, reaching $45.26. The company’s stock had a trading volume of 92,579 shares, compared to its average volume of 186,282. Alexander & Baldwin has a twelve month low of $39.32 and a twelve month high of $46.96. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2,230.00, a P/E ratio of 48.16 and a beta of 1.46.

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In related news, Director Stanley M. Kuriyama sold 4,250 shares of Alexander & Baldwin stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $43.70, for a total value of $185,725.00. Following the sale, the director now directly owns 251,633 shares in the company, valued at approximately $10,996,362.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 12,750 shares of company stock worth $568,735. 7.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALEX. UBS Asset Management Americas Inc. lifted its stake in Alexander & Baldwin by 14.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 15,793 shares of the financial services provider’s stock worth $703,000 after purchasing an additional 2,000 shares in the last quarter. Prudential Financial Inc. lifted its stake in Alexander & Baldwin by 21.3% in the 1st quarter. Prudential Financial Inc. now owns 35,178 shares of the financial services provider’s stock worth $1,566,000 after purchasing an additional 6,170 shares in the last quarter. SG Americas Securities LLC lifted its stake in Alexander & Baldwin by 113.1% in the 1st quarter. SG Americas Securities LLC now owns 6,871 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 3,646 shares in the last quarter. Arizona State Retirement System lifted its stake in Alexander & Baldwin by 0.5% in the 1st quarter. Arizona State Retirement System now owns 19,200 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 101 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Alexander & Baldwin by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 186,846 shares of the financial services provider’s stock worth $8,318,000 after purchasing an additional 4,618 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (A&B) is a real estate company. The Company operates through three segments: Commercial Real Estate, Land Operations, and Materials and Construction. In addition to its 15 retail centers in Hawaii, the Company owned seven industrial assets, seven office properties and a portfolio of urban ground leases comprising 106 acres in Hawaii, as of December 31, 2016.

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