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 company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $19.37, for a total transaction of $13,559.00. Following the completion of the sale, the vice president now directly owns 149,167 shares of the company’s stock, valued at $2,889,364.79. The trade was a 0.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alexander & Baldwin Price Performance

ALEX traded down $0.15 on Wednesday, hitting $19.17. 375,494 shares of the company were exchanged, compared to its average volume of 321,419. The firm has a market capitalization of $1.39 billion, a P/E ratio of 31.16 and a beta of 1.28. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The business’s fifty day moving average is $19.09 and its 200 day moving average is $18.52. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.2225 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.64%. Alexander & Baldwin’s dividend payout ratio (DPR) is 143.55%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALEX shares. Piper Sandler reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $21.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in Alexander & Baldwin by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,739 shares of the financial services provider’s stock worth $342,000 after buying an additional 2,613 shares in the last quarter. Reinhart Partners LLC. grew its holdings in Alexander & Baldwin by 1.6% in the second quarter. Reinhart Partners LLC. now owns 2,481,672 shares of the financial services provider’s stock valued at $42,089,000 after purchasing an additional 38,948 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Alexander & Baldwin by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,399 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 2,795 shares during the last quarter. Summit Global Investments raised its stake in Alexander & Baldwin by 43.6% during the second quarter. Summit Global Investments now owns 42,262 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 12,830 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Alexander & Baldwin by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 600 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.