Alexander & Baldwin, Inc. (NYSE:ALEX) VP Sells $12,642.00 in Stock

Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching sold 700 shares of Alexander & Baldwin stock in a transaction on Monday, March 10th. The shares were sold at an average price of $18.06, for a total value of $12,642.00. Following the sale, the vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alexander & Baldwin Stock Performance

Shares of NYSE:ALEX traded down $0.05 during trading on Tuesday, reaching $18.30. The stock had a trading volume of 191,558 shares, compared to its average volume of 368,465. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $17.73 and a two-hundred day simple moving average of $18.59. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 29.52 and a beta of 1.27. 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 during the quarter, compared to analysts’ expectations of $49.68 million. Alexander & Baldwin had a net margin of 19.64% and a return on equity of 5.93%. As a group, analysts anticipate that Alexander & Baldwin, Inc. will post 1.35 earnings per share 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. Shareholders of record on Friday, March 14th will be given a $0.225 dividend. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Friday, March 14th. Alexander & Baldwin’s payout ratio is currently 107.14%.

Analyst Upgrades and Downgrades

ALEX has been the subject of several research reports. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler raised their price target on shares of Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th.

Institutional Investors Weigh In On Alexander & Baldwin

Hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. acquired a new position in Alexander & Baldwin during the 4th quarter valued at $7,722,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alexander & Baldwin by 386.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 481,253 shares of the financial services provider’s stock valued at $9,240,000 after buying an additional 382,327 shares during the last quarter. State Street Corp lifted its stake in shares of Alexander & Baldwin by 9.4% in the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock valued at $82,033,000 after buying an additional 363,223 shares during the period. JPMorgan Chase & Co. grew its position in Alexander & Baldwin by 51.0% during the fourth quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock worth $15,612,000 after buying an additional 297,044 shares in the last quarter. Finally, Norges Bank bought a new position in Alexander & Baldwin during the fourth quarter valued at about $5,236,000. 91.29% of the stock is owned by institutional investors.

Alexander & Baldwin Company Profile

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.