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

Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching sold 700 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $16.97, for a total transaction of $11,879.00. Following the transaction, the vice president now directly owns 148,467 shares in the company, valued at $2,519,484.99. The trade was a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Alexander & Baldwin Stock Performance

Shares of ALEX stock traded down $0.26 during trading hours on Friday, reaching $17.05. 296,129 shares of the company’s stock were exchanged, compared to its average volume of 283,537. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a market cap of $1.24 billion, a P/E ratio of 27.50 and a beta of 1.29. The company’s 50 day moving average is $18.75 and its two-hundred day moving average is $18.70.

Alexander & Baldwin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were issued a $0.2225 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is currently 145.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Piper Sandler restated an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Alexander & Baldwin presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in 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 buying an additional 35,916 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Alexander & Baldwin in the 3rd quarter worth approximately $1,151,000. Victory Capital Management Inc. increased its stake in Alexander & Baldwin by 3.1% in 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 purchasing an additional 29,006 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alexander & Baldwin by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock worth $36,032,000 after purchasing an additional 23,441 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares in the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

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.