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 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 owns 148,467 shares of the company’s stock, valued at $2,519,484.99. This trade represents a 0.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alexander & Baldwin Price Performance

ALEX opened at $17.05 on Friday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 27.50 and a beta of 1.29. The stock’s 50 day simple moving average is $18.75 and its 200 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.

Alexander & Baldwin Dividend Announcement

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

Institutional Investors Weigh In On Alexander & Baldwin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock valued at $9,240,000 after buying an additional 382,327 shares during the last quarter. State Street Corp raised its stake in Alexander & Baldwin by 9.4% in the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Alexander & Baldwin by 10.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,970,393 shares of the financial services provider’s stock worth $37,832,000 after buying an additional 190,357 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after buying an additional 140,207 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Alexander & Baldwin by 101.0% in the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after buying an additional 111,392 shares during the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALEX. JMP Securities restated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued 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 shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.