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 that occurred 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 completion of the transaction, the vice president now directly owns 148,467 shares of the company’s stock, valued at approximately $2,519,484.99. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $17.05 on Friday. The company’s 50 day simple moving average is $18.72 and its two-hundred day simple moving average is $18.70. 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 stock has a market capitalization of $1.24 billion, a PE ratio of 27.50 and a beta of 1.29.

Alexander & Baldwin Announces Dividend

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

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Alexander & Baldwin by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 759 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,034 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 727 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Alexander & Baldwin by 19.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 572 shares during the last quarter. Finally, KBC Group NV lifted its position in Alexander & Baldwin by 53.6% during the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 1,338 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ALEX. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, StockNews.com upgraded Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Alexander & Baldwin currently has an average rating of “Moderate Buy” and an average price target of $22.50.

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.