Insider Selling: Alexander & Baldwin, Inc. (NYSE:ALEX) VP Sells 700 Shares of Stock

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

Alexander & Baldwin Trading Down 1.5 %

Shares of Alexander & Baldwin 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. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The company has a fifty day moving average of $18.75 and a 200-day moving average of $18.70. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 27.50 and a beta of 1.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $0.2225 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.89 annualized dividend and a yield of 5.22%. Alexander & Baldwin’s dividend payout ratio is presently 145.16%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALEX. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Monday, November 25th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors have recently bought and sold shares of ALEX. Choreo LLC purchased a new stake in Alexander & Baldwin during the 2nd quarter worth approximately $208,000. American Century Companies Inc. increased its stake in shares of Alexander & Baldwin by 9.4% during the second quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 2,014 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of Alexander & Baldwin in the 2nd quarter worth approximately $802,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Alexander & Baldwin during the 2nd quarter worth $221,000. Finally, Rock Point Advisors LLC boosted its position in shares of Alexander & Baldwin by 0.9% in the 2nd quarter. Rock Point Advisors LLC now owns 216,210 shares of the financial services provider’s stock valued at $3,667,000 after purchasing an additional 1,900 shares during the period. 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.