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 Alexander & Baldwin stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $19.37, for a total transaction of $13,559.00. Following the sale, the vice president now owns 149,167 shares of the company’s stock, valued at approximately $2,889,364.79. This trade represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Alexander & Baldwin Stock Performance

Shares of ALEX opened at $18.91 on Friday. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 30.50 and a beta of 1.28. The firm has a fifty day moving average of $19.10 and a 200-day moving average of $18.53.

Alexander & Baldwin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, December 20th. Alexander & Baldwin’s dividend payout ratio is 143.55%.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Alexander & Baldwin by 103.3% during the 3rd 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 in the last quarter. Rothschild Investment LLC bought a new position in Alexander & Baldwin during the second quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. lifted its position 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 worth $54,000 after purchasing an additional 727 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Alexander & Baldwin by 19.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,447 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 572 shares during the period. Finally, KBC Group NV raised its position in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,338 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALEX shares. Piper Sandler restated 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. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

Alexander & Baldwin Company Profile

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.