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 Thursday, April 10th. The shares were sold at an average price of $16.04, for a total value of $11,228.00. Following the transaction, the vice president now directly owns 151,049 shares in the company, valued at approximately $2,422,825.96. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Alexander & Baldwin Trading Down 3.1 %

Shares of NYSE ALEX traded down $0.51 during trading hours 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 business’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $18.18. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.03. Alexander & Baldwin, Inc. has a 52-week low of $14.64 and a 52-week high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

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

Alexander & Baldwin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given 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 of this dividend was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.63%. Alexander & Baldwin’s dividend payout ratio (DPR) is 107.14%.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Alexander & Baldwin by 2,211.5% in the 1st quarter. GAMMA Investing LLC now owns 33,909 shares of the financial services provider’s stock worth $584,000 after acquiring an additional 32,442 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Alexander & Baldwin in the fourth quarter valued at about $1,857,000. PharVision Advisers LLC bought a new position in Alexander & Baldwin in the fourth quarter worth about $209,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alexander & Baldwin by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 499,565 shares of the financial services provider’s stock valued at $8,862,000 after buying an additional 18,312 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Alexander & Baldwin in the 4th quarter valued at about $532,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALEX. Piper Sandler boosted their price objective on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, February 28th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research note on Sunday, March 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a research note on Monday, January 6th.

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.