Raymond James & Associates Purchases Shares of 13,421 Alexander & Baldwin Inc (ALEX)

Raymond James & Associates purchased a new position in shares of Alexander & Baldwin Inc (NYSE:ALEX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,421 shares of the financial services provider’s stock, valued at approximately $315,000.

Several other hedge funds have also modified their holdings of ALEX. Russell Investments Group Ltd. increased its holdings in shares of Alexander & Baldwin by 1,488.6% during the first quarter. Russell Investments Group Ltd. now owns 51,202 shares of the financial services provider’s stock worth $1,184,000 after buying an additional 47,979 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Alexander & Baldwin by 29.7% during the first quarter. Stifel Financial Corp now owns 30,154 shares of the financial services provider’s stock worth $698,000 after buying an additional 6,897 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Alexander & Baldwin by 50.4% during the first quarter. Principal Financial Group Inc. now owns 286,318 shares of the financial services provider’s stock worth $6,623,000 after buying an additional 95,994 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Alexander & Baldwin by 41.7% during the first quarter. The Manufacturers Life Insurance Company now owns 157,244 shares of the financial services provider’s stock worth $3,637,000 after buying an additional 46,305 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Alexander & Baldwin by 40.8% during the first quarter. California State Teachers Retirement System now owns 103,735 shares of the financial services provider’s stock worth $2,399,000 after buying an additional 30,065 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.

NYSE ALEX opened at $19.75 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59. Alexander & Baldwin Inc has a 1-year low of $19.14 and a 1-year high of $45.62.

Alexander & Baldwin (NYSE:ALEX) last issued its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The company had revenue of $112.10 million during the quarter, compared to analyst estimates of $99.93 million. Alexander & Baldwin had a net margin of 58.20% and a return on equity of 6.28%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS.

Separately, TheStreet lowered shares of Alexander & Baldwin from a “c” rating to a “d+” rating in a report on Monday, August 6th.

In related news, Director Stanley M. Kuriyama sold 6,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $22.96, for a total value of $144,648.00. Following the completion of the sale, the director now owns 368,639 shares of the company’s stock, valued at $8,463,951.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 18,901 shares of company stock valued at $429,179. 6.70% of the stock is currently owned by company insiders.

About Alexander & Baldwin

Alexander & Baldwin, Inc is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. With a portfolio of approximately 87,000 acres in Hawai`i, A&B is the state's fourth largest private landowner. A&B is a fully integrated real estate investment trust and owns, operates and manages 3.3 million square feet of primarily retail and industrial space in Hawai`i.

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Institutional Ownership by Quarter for Alexander & Baldwin (NYSE:ALEX)

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