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 stock in a transaction dated Friday, January 10th. The shares were 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 in the company, valued at $2,519,484.99. This trade represents a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Alexander & Baldwin Trading Down 1.5 %

Shares of ALEX stock opened at $17.05 on Friday. The business has a 50-day moving average of $18.72 and a 200 day moving average of $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. The stock has a market capitalization of $1.24 billion, a PE ratio of 27.50 and a beta of 1.29.

Alexander & Baldwin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Friday, December 20th. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 145.16%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Choreo LLC bought a new stake in Alexander & Baldwin in the 2nd quarter worth $208,000. American Century Companies Inc. grew its stake in shares of Alexander & Baldwin by 9.4% in the second quarter. American Century Companies Inc. now owns 23,530 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 2,014 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Alexander & Baldwin during the 2nd quarter valued at about $802,000. Oppenheimer Asset Management Inc. purchased a new position in Alexander & Baldwin during the 2nd quarter valued at about $221,000. Finally, Rock Point Advisors LLC raised its position in Alexander & Baldwin by 0.9% during 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 last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALEX. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $23.00 price objective (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.50.

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.