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 company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $19.25, for a total value of $13,475.00. Following the sale, the vice president now owns 149,867 shares of the company’s stock, valued at approximately $2,884,939.75. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alexander & Baldwin Trading Up 1.2 %

Shares of ALEX opened at $19.30 on Friday. 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 12 month low of $15.53 and a 12 month high of $20.30. The stock has a market cap of $1.40 billion, a PE ratio of 31.13 and a beta of 1.26. The stock’s 50-day moving average is $19.09 and its two-hundred day moving average is $18.17.

Hedge Funds Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 759 shares during the period. Rothschild Investment LLC purchased a new stake in Alexander & Baldwin during the 2nd quarter worth $35,000. Allspring Global Investments Holdings LLC acquired a new position in Alexander & Baldwin in the 1st quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Alexander & Baldwin by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider’s stock valued at $54,000 after buying an additional 727 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of 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 acquiring an additional 572 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALEX has been the subject of several research analyst reports. Alliance Global Partners assumed coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They set a “buy” rating and a $22.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Alexander & Baldwin presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

About Alexander & Baldwin

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.