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 stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 151,749 shares of the company’s stock, valued at $2,740,586.94. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alexander & Baldwin Trading Down 2.2 %

NYSE:ALEX opened at $17.93 on Thursday. The stock has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $18.58. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 28.91 and a beta of 1.27. 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, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The firm 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%. As a group, sell-side 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 disclosed 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 a boost from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.90 annualized dividend and a yield of 5.02%. Alexander & Baldwin’s dividend payout ratio is presently 107.14%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jane Street Group LLC raised its position in Alexander & Baldwin by 61.2% in the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider’s stock worth $1,817,000 after acquiring an additional 35,916 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Alexander & Baldwin in the third quarter valued at $1,151,000. Victory Capital Management Inc. increased its position in shares of Alexander & Baldwin by 3.1% in the third quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider’s stock valued at $18,536,000 after buying an additional 29,006 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alexander & Baldwin by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after buying an additional 23,441 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Alexander & Baldwin by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 582,974 shares of the financial services provider’s stock valued at $11,193,000 after buying an additional 140,207 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALEX shares. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Monday, January 6th. Finally, Piper Sandler increased their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, February 28th.

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.