Alexander & Baldwin (NYSE:ALEX) VP Meredith Ching Sells 700 Shares of Stock

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) VP Meredith Ching sold 700 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $16.76, for a total value of $11,732.00. Following the sale, the vice president directly owned 146,849 shares in the company, valued at $2,461,189.24. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alexander & Baldwin Stock Down 2.1%

Shares of Alexander & Baldwin stock opened at $16.52 on Friday. Alexander & Baldwin Holdings, Inc. has a 12-month low of $15.70 and a 12-month high of $19.97. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.20 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The stock’s fifty day moving average is $18.40 and its 200-day moving average is $17.81.

Alexander & Baldwin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th were issued a dividend of $0.225 per share. The ex-dividend date was Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.4%. Alexander & Baldwin’s payout ratio is currently 84.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. 1620 Investment Advisors Inc. grew its stake in Alexander & Baldwin by 3.0% in the third quarter. 1620 Investment Advisors Inc. now owns 21,850 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 637 shares in the last quarter. GAMMA Investing LLC grew its stake in Alexander & Baldwin by 52.5% in the third quarter. GAMMA Investing LLC now owns 2,736 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 942 shares in the last quarter. Caxton Associates LLP purchased a new position in Alexander & Baldwin in the second quarter valued at about $567,000. Public Sector Pension Investment Board grew its stake in Alexander & Baldwin by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 247,895 shares of the financial services provider’s stock valued at $4,420,000 after purchasing an additional 17,601 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Alexander & Baldwin by 3.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 162,858 shares of the financial services provider’s stock valued at $2,904,000 after purchasing an additional 4,687 shares in the last quarter. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALEX. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. Weiss Ratings downgraded Alexander & Baldwin from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.00.

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.