Virtus Fund Advisers LLC cut its holdings in shares of Alexander & Baldwin Inc (NYSE:ALEX) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686,079 shares of the financial services provider’s stock after selling 26,799 shares during the period. Virtus Fund Advisers LLC’s holdings in Alexander & Baldwin were worth $29,998,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Essex Investment Management Co. LLC bought a new position in shares of Alexander & Baldwin in the third quarter worth about $208,000. Daiwa Securities Group Inc. bought a new stake in Alexander & Baldwin during the 3rd quarter valued at approximately $208,000. OLD National Bancorp IN bought a new stake in Alexander & Baldwin during the 3rd quarter valued at approximately $224,000. Schroder Investment Management Group purchased a new position in Alexander & Baldwin during the 4th quarter valued at approximately $158,000. Finally, Jane Street Group LLC purchased a new position in Alexander & Baldwin during the 3rd quarter valued at approximately $271,000. 54.96% of the stock is currently owned by institutional investors.
In related news, CEO Christopher J. Benjamin sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $28.85, for a total transaction of $288,500.00. Following the transaction, the chief executive officer now directly owns 555 shares in the company, valued at approximately $16,011.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stanley M. Kuriyama sold 6,300 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $27.45, for a total value of $172,935.00. Following the transaction, the director now owns 306,258 shares in the company, valued at $8,406,782.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,300 shares of company stock valued at $605,685. Corporate insiders own 7.60% of the company’s stock.
Several equities analysts have weighed in on ALEX shares. BidaskClub cut Alexander & Baldwin from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 7th. TheStreet cut Alexander & Baldwin from a “b-” rating to a “c” rating in a report on Tuesday, November 28th. Finally, JMP Securities upgraded Alexander & Baldwin from a “market perform” rating to an “outperform” rating in a report on Tuesday.
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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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