Dallas-based hedge fund Pershing Square revealed a new activist position in Alexander & Baldwin (ALEX, Financial) today after the market close. An amended 13F filing reported that Pershing Square owned 172 thousand shares of Alexander & Baldwin as of Dec. 31, 2010. A 13D filing indicated that Pershing Square bought more Alexander & Baldwin stock over the first quarter. The hedge fund owns more than 3.5 million shares as of March 21, 2011. Pershing Square purchased 3,561,943 Common Shares for total consideration of $148,100,867 (including brokerage commissions) and 279,675 notional shares underlying the Swaps. This translated into $41.58 per share of cost for Pershing Square. Today Alexander & Baldwin closed at $45.65. Pershing Square had made about 10% with this position.
Alexander & Baldwin, through its subsidiaries, is engaged principally in ocean transportation of goods, real estate sales and development, and agribusiness. Alexander & Baldwin Inc has a market cap of $1.89 billion; its shares were traded at a P/E ratio of 31.4 and P/S ratio of 1.1. The dividend yield of Alexander & Baldwin Inc stocks is 2.7%.
Pershing Square is run by its founder, activist investor, Bill Ackman. Bill Ackman likes to acquire large positions in companies and push for changes. His past activist positions include General Growth Properties (GGP, Financial), Target (TGT, Financial). His current activist position is in J. C. Penny (JCP, Financial), and he pushed for a change in Fortune Brands, too. For the details of his portfolio, go to http://www.gurufocus.com/holdings.php?GuruName=Bill+Ackman&sort=position
The area Bill Ackman pushes for changes to the business is usually linked to real estate. Alexander & Baldwin’s subsidiary of real estate operations may be Bill Ackman’s target. Further, Alexander & Baldwin is engaged in three separate businesses. It will not be surprised if Bill Ackman pushes for a split of the company, either.
This is part of Real Time Picks report of Guru Trades. Check out the complete list of the latest Guru trades at Real Time Guru Picks.
Alexander & Baldwin, through its subsidiaries, is engaged principally in ocean transportation of goods, real estate sales and development, and agribusiness. Alexander & Baldwin Inc has a market cap of $1.89 billion; its shares were traded at a P/E ratio of 31.4 and P/S ratio of 1.1. The dividend yield of Alexander & Baldwin Inc stocks is 2.7%.
Pershing Square is run by its founder, activist investor, Bill Ackman. Bill Ackman likes to acquire large positions in companies and push for changes. His past activist positions include General Growth Properties (GGP, Financial), Target (TGT, Financial). His current activist position is in J. C. Penny (JCP, Financial), and he pushed for a change in Fortune Brands, too. For the details of his portfolio, go to http://www.gurufocus.com/holdings.php?GuruName=Bill+Ackman&sort=position
The area Bill Ackman pushes for changes to the business is usually linked to real estate. Alexander & Baldwin’s subsidiary of real estate operations may be Bill Ackman’s target. Further, Alexander & Baldwin is engaged in three separate businesses. It will not be surprised if Bill Ackman pushes for a split of the company, either.
This is part of Real Time Picks report of Guru Trades. Check out the complete list of the latest Guru trades at Real Time Guru Picks.
