Alexander & Baldwin (NYSE:ALEX) Reaches New 12-Month Low – Here’s What Happened

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) shares hit a new 52-week low during trading on Monday . The company traded as low as $15.39 and last traded at $15.4830, with a volume of 88415 shares changing hands. The stock had previously closed at $15.52.

Analyst Ratings Changes

Several research firms have weighed in on ALEX. Piper Sandler set a $21.00 price target on shares of Alexander & Baldwin in a report on Monday, November 3rd. Weiss Ratings cut Alexander & Baldwin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Alexander & Baldwin presently has an average rating of “Hold” and a consensus price target of $21.00.

Alexander & Baldwin Trading Up 0.1%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.09. The firm has a fifty day moving average price of $17.53 and a 200-day moving average price of $17.80.

Institutional Trading of Alexander & Baldwin

A number of institutional investors and hedge funds have recently made changes to their positions in ALEX. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Alexander & Baldwin during the 2nd quarter worth approximately $25,000. Jones Financial Companies Lllp bought a new stake in Alexander & Baldwin during the first quarter worth $41,000. Parallel Advisors LLC boosted its holdings in shares of Alexander & Baldwin by 76.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,069 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Alexander & Baldwin in the 2nd quarter valued at $46,000. Finally, GAMMA Investing LLC raised its holdings in shares of Alexander & Baldwin by 52.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider’s stock worth $50,000 after buying an additional 942 shares in the last quarter. Institutional investors own 91.29% of the company’s stock.

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.