Franklin Resources Inc. Acquires 626,289 Shares of Alexander & Baldwin Holdings, Inc. $ALEX

Franklin Resources Inc. lifted its holdings in shares of Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) by 33.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,517,438 shares of the financial services provider’s stock after purchasing an additional 626,289 shares during the period. Franklin Resources Inc.’s holdings in Alexander & Baldwin were worth $44,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALEX. HighTower Advisors LLC boosted its stake in Alexander & Baldwin by 39.1% during the 1st quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 23,322 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Alexander & Baldwin by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider’s stock worth $200,732,000 after purchasing an additional 172,992 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Alexander & Baldwin by 47.1% in the first quarter. Voya Investment Management LLC now owns 118,892 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 38,092 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Alexander & Baldwin by 468.6% in the first quarter. US Bancorp DE now owns 6,795 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Alexander & Baldwin by 666.8% during the first quarter. Panagora Asset Management Inc. now owns 246,443 shares of the financial services provider’s stock valued at $4,246,000 after buying an additional 214,305 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ALEX. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander & Baldwin in a report on Wednesday, November 19th. Piper Sandler set a $21.00 target price 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 report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.00.

Alexander & Baldwin Stock Performance

Shares of Alexander & Baldwin stock opened at $15.61 on Wednesday. The business’s fifty day simple moving average is $16.78 and its 200 day simple moving average is $17.67. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44. Alexander & Baldwin Holdings, Inc. has a 12 month low of $15.34 and a 12 month high of $19.95. The firm has a market capitalization of $1.14 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.09.

Alexander & Baldwin (NYSE:ALEX) last announced 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). The business had revenue of $50.25 million for the quarter, compared to analysts’ expectations of $50.69 million. Alexander & Baldwin had a net margin of 33.94% and a return on equity of 7.81%. As a group, analysts anticipate that Alexander & Baldwin Holdings, Inc. will post 1.35 EPS for the current year.

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.