Insider Selling: 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 the company’s 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 completion of the transaction, the vice president now directly owns 151,749 shares in the company, valued at approximately $2,740,586.94. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alexander & Baldwin Trading Down 1.8 %

Shares of ALEX opened at $17.60 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 12 month low of $15.53 and a 12 month high of $20.30. The stock’s 50-day moving average is $17.75 and its two-hundred day moving average is $18.58. The stock has a market cap of $1.28 billion, a PE ratio of 28.38 and a beta of 1.27.

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

Alexander & Baldwin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Friday, March 14th. This is an increase from Alexander & Baldwin’s previous quarterly dividend of $0.22. Alexander & Baldwin’s dividend payout ratio is 107.14%.

Institutional Trading of Alexander & Baldwin

Several large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Alexander & Baldwin by 9.4% during the third quarter. State Street Corp now owns 4,228,089 shares of the financial services provider’s stock worth $82,033,000 after buying an additional 363,223 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alexander & Baldwin by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock valued at $35,723,000 after purchasing an additional 43,333 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alexander & Baldwin by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider’s stock valued at $36,032,000 after acquiring an additional 23,441 shares during the last quarter. Northern Trust Corp raised its position in shares of Alexander & Baldwin by 23.5% during the 4th quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock valued at $18,110,000 after acquiring an additional 194,534 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Alexander & Baldwin by 3.1% in the 3rd 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 during the period. 91.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.