Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching Sells 700 Shares

Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching sold 700 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $18.06, for a total transaction of $12,642.00. Following the sale, the vice president now owns 151,749 shares in the company, valued at $2,740,586.94. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock traded down $0.05 during mid-day trading on Tuesday, hitting $18.30. The company’s stock had a trading volume of 191,558 shares, compared to its average volume of 368,465. Alexander & Baldwin, Inc. has a twelve month low of $15.53 and a twelve month high of $20.30. The stock’s fifty day moving average price is $17.73 and its two-hundred day moving average price is $18.59. The stock has a market capitalization of $1.33 billion, a P/E ratio of 29.52 and a beta of 1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX) last announced its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Research analysts forecast that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.92%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s payout ratio is currently 107.14%.

Analyst Upgrades and Downgrades

ALEX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler boosted their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC lifted its holdings in shares of Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock valued at $1,817,000 after purchasing an additional 35,916 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Alexander & Baldwin during the 3rd quarter worth about $1,151,000. Victory Capital Management Inc. grew its stake in Alexander & Baldwin by 3.1% during the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after acquiring an additional 29,006 shares in the last quarter. Geode Capital Management LLC grew its stake in Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after acquiring an additional 23,441 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alexander & Baldwin by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after purchasing an additional 140,207 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.