Seabridge Investment Advisors Lowers stake in Alexander & Baldwin Inc (ALEX)

Alexander & Baldwin Inc (ALEX) : Seabridge Investment Advisors reduced its stake in Alexander & Baldwin Inc by 5.04% during the most recent quarter end. The investment management company now holds a total of 211,329 shares of Alexander & Baldwin Inc which is valued at $8,188,999 after selling 11,222 shares in Alexander & Baldwin Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Alexander & Baldwin Inc makes up approximately 1.85% of Seabridge Investment Advisors’s portfolio.

Alexander & Baldwin Inc opened for trading at $37.97 and hit $38.78 on the upside on Friday, eventually ending the session at $38.75, with a gain of 2.38% or 0.9 points. The heightened volatility saw the trading volume jump to 1,59,378 shares. Company has a market cap of $1,897 M.

Other Hedge Funds, Including , Reinhart Partners boosted its stake in ALEX in the latest quarter, The investment management firm added 2,060 additional shares and now holds a total of 58,630 shares of Alexander & Baldwin Inc which is valued at $2,271,913. Alexander & Baldwin Inc makes up approx 0.23% of Reinhart Partners’s portfolio.

On the company’s financial health, Alexander & Baldwin Inc reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.19 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.10. The company had revenue of $121.40 million for the quarter, compared to analysts expectations of $161.90 million. The company’s revenue was down -26.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.14 EPS.

Alexander & Baldwin Inc. (A&B) is a company 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. The Real Estate Development and Sales segment generates its revenues through a program of land stewardship planning entitlement development real estate investment and sale of land and commercial and residential properties in Hawaii. The Real Estate Leasing segment owns operates and manages a portfolio of 60 retail office and industrial properties in Hawaii and on the Mainland totaling 5.1 million square feet of gross leasable area (GLA). The Materials and Construction segment performs asphalt paving as prime contractor and subcontractor. The Agribusiness segment produces bulk raw sugar specialty food grade sugars and molasses.

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