Alexander & Baldwin (ALEX) Insider Sells $160,522.50 in Stock
Alexander & Baldwin (NYSE:ALEX) insider Stanley M. Kuriyama sold 4,250 shares of the firm’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $37.77, for a total value of $160,522.50. Following the completion of the transaction, the insider now owns 233,736 shares of the company’s stock, valued at approximately $8,828,208.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Alexander & Baldwin (NYSE:ALEX) opened at 37.38 on Monday. Alexander & Baldwin has a 1-year low of $28.82 and a 1-year high of $42.80. The firm’s market cap is $1.83 billion. The company’s 50 day moving average price is $38.62 and its 200-day moving average price is $37.96.
Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.19. Alexander & Baldwin had a negative net margin of 2.87% and a positive return on equity of 3.17%. The company had revenue of $102.70 million for the quarter, compared to analyst estimates of $159.09 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was down 33.2% compared to the same quarter last year. Equities analysts expect that Alexander & Baldwin will post $0.97 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALEX. Legal & General Group Plc raised its position in Alexander & Baldwin by 0.7% in the second quarter. Legal & General Group Plc now owns 12,276 shares of the company’s stock worth $439,000 after buying an additional 82 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Alexander & Baldwin by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 32,240 shares of the company’s stock worth $1,165,000 after buying an additional 100 shares during the period. State Treasurer State of Michigan raised its position in shares of Alexander & Baldwin by 1.1% in the second quarter. State Treasurer State of Michigan now owns 18,520 shares of the company’s stock worth $669,000 after buying an additional 200 shares during the period. OLD National Bancorp IN raised its position in shares of Alexander & Baldwin by 4.0% in the second quarter. OLD National Bancorp IN now owns 6,048 shares of the company’s stock worth $219,000 after buying an additional 233 shares during the period. Finally, Amalgamated Bank raised its position in shares of Alexander & Baldwin by 4.3% in the second quarter. Amalgamated Bank now owns 5,692 shares of the company’s stock worth $233,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 76.98% of the company’s stock.
Separately, JMP Securities cut Alexander & Baldwin from an “outperform” rating to a “market perform” rating and set a $44.00 price target for the company. in a research report on Friday, August 26th. They noted that the move was a valuation call.
Alexander & Baldwin Company Profile
Alexander & Baldwin, Inc (A&B) is engaged in real estate development, real estate leasing, materials and construction, and agribusiness. The Company operates in four segments: Real Estate Development and Sales, Real Estate Leasing, Materials and Construction, and Agribusiness. Real estate activities are conducted through A&B Properties, Inc and other subsidiaries of A&B.
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