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 the company’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 owns 151,749 shares of the company’s stock, valued at approximately $2,740,586.94. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $18.35 on Wednesday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 29.59 and a beta of 1.27. The firm’s fifty day moving average is $17.75 and its 200 day moving average is $18.59. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30.

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

Alexander & Baldwin Increases Dividend

The firm also recently declared 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 is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 4.91%. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALEX. Creative Planning bought a new position in Alexander & Baldwin during the third quarter valued at $216,000. Van ECK Associates Corp increased its position in Alexander & Baldwin by 12.3% during the third quarter. Van ECK Associates Corp now owns 12,510 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 1,374 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Alexander & Baldwin during the third quarter valued at $561,000. Victory Capital Management Inc. increased its position in Alexander & Baldwin by 3.1% during 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 acquiring an additional 29,006 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Alexander & Baldwin by 5.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,732 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 683 shares during the last quarter. Institutional investors own 91.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALEX shares. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. Piper Sandler boosted their target price on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Saturday.

About Alexander & Baldwin

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.