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 company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $18.06, for a total transaction of $12,642.00. Following the completion of the transaction, the vice president now directly owns 151,749 shares in the company, valued at $2,740,586.94. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alexander & Baldwin Stock Down 2.2 %

ALEX stock opened at $17.93 on Thursday. The company’s 50 day moving average price is $17.75 and its 200 day moving average price is $18.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.91 and a beta of 1.27.

Alexander & Baldwin (NYSE:ALEX) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, equities research analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 EPS for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.02%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Analyst Ratings Changes

ALEX has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th.

Institutional Trading of Alexander & Baldwin

Large investors have recently made changes to their positions in the company. Jane Street Group LLC increased its stake in shares of Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 35,916 shares during the period. HighTower Advisors LLC purchased a new position in Alexander & Baldwin in the third quarter valued at approximately $1,151,000. Victory Capital Management Inc. increased its stake in Alexander & Baldwin by 3.1% in the third 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 during the last quarter. Geode Capital Management LLC increased its stake in Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after purchasing an additional 23,441 shares during the last quarter. Finally, JPMorgan Chase & Co. increased 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 purchasing an additional 140,207 shares during 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.