Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching Sells 700 Shares

Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching sold 700 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $17.79, for a total transaction of $12,453.00. Following the completion of the sale, the vice president now owns 150,349 shares of the company’s stock, valued at approximately $2,674,708.71. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alexander & Baldwin Trading Down 1.0%

NYSE:ALEX opened at $17.57 on Wednesday. Alexander & Baldwin, Inc. has a 12 month low of $15.70 and a 12 month high of $20.30. The firm has a fifty day simple moving average of $17.10 and a 200-day simple moving average of $17.91. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.28 billion, a P/E ratio of 28.34 and a beta of 0.99.

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

Alexander & Baldwin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 13th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, June 13th. This represents a $0.90 annualized dividend and a dividend yield of 5.12%. Alexander & Baldwin’s dividend payout ratio (DPR) is presently 105.88%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ALEX. Nuveen LLC purchased a new position in Alexander & Baldwin in the first quarter valued at $8,116,000. Balyasny Asset Management L.P. purchased a new position in Alexander & Baldwin in the fourth quarter valued at $7,722,000. JPMorgan Chase & Co. increased its holdings in Alexander & Baldwin by 51.0% in the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock valued at $15,612,000 after buying an additional 297,044 shares in the last quarter. Norges Bank purchased a new position in Alexander & Baldwin in the fourth quarter valued at $5,236,000. Finally, Bank of America Corp DE increased its holdings in Alexander & Baldwin by 321.2% in the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider’s stock valued at $6,302,000 after buying an additional 270,907 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Piper Sandler lifted their price objective 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.

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.