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 firm’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $16.04, for a total value of $11,228.00. Following the completion of the transaction, the vice president now directly owns 151,049 shares in the company, valued at $2,422,825.96. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX traded down $0.51 during midday trading on Thursday, reaching $15.99. The stock had a trading volume of 1,277,553 shares, compared to its average volume of 369,895. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.03. Alexander & Baldwin, Inc. has a 12-month low of $14.64 and a 12-month high of $20.30. The stock has a 50-day moving average of $17.50 and a 200-day moving average of $18.18. 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 (NYSE:ALEX) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. As a group, research analysts anticipate 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 was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a $0.225 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a yield of 5.63%. Alexander & Baldwin’s payout ratio is currently 107.14%.

Hedge Funds Weigh In On Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in Alexander & Baldwin by 284.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,239 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Alexander & Baldwin by 90.0% in the 4th quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,034 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Alexander & Baldwin in the 4th quarter worth about $112,000. Point72 Asset Management L.P. raised its position in shares of Alexander & Baldwin by 35.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider’s stock valued at $175,000 after buying an additional 2,363 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Alexander & Baldwin in the 4th quarter valued at about $206,000. Institutional investors own 91.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Piper Sandler lifted 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. Finally, StockNews.com lowered Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th.

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.