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

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) VP Meredith Ching sold 700 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $20.89, for a total value of $14,623.00. Following the sale, the vice president directly owned 145,449 shares in the company, valued at $3,038,429.61. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alexander & Baldwin Stock Performance

Shares of ALEX stock traded up $0.04 on Wednesday, hitting $20.89. The company had a trading volume of 4,173,340 shares, compared to its average volume of 1,022,396. Alexander & Baldwin Holdings, Inc. has a twelve month low of $15.07 and a twelve month high of $20.97. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.52 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The company has a 50-day moving average price of $16.37 and a 200-day moving average price of $17.59.

Alexander & Baldwin (NYSE:ALEX) last posted its earnings results on Friday, October 31st. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Alexander & Baldwin had a return on equity of 7.29% and a net margin of 33.62%.The company had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.69 million. As a group, equities research analysts predict that Alexander & Baldwin Holdings, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Friday, December 19th will be given a dividend of $0.35 per share. This is a boost from Alexander & Baldwin’s previous quarterly dividend of $0.23. This represents a $1.40 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, December 19th. Alexander & Baldwin’s dividend payout ratio (DPR) is 89.11%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler downgraded shares of Alexander & Baldwin from an “overweight” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Tuesday. Alliance Global Partners cut Alexander & Baldwin to a “neutral” rating in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Janney Montgomery Scott cut Alexander & Baldwin to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander & Baldwin in a research report on Monday. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.95.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Alexander & Baldwin by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,810 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 621 shares during the last quarter. 1620 Investment Advisors Inc. grew its holdings in shares of Alexander & Baldwin by 3.0% during the third quarter. 1620 Investment Advisors Inc. now owns 21,850 shares of the financial services provider’s stock worth $397,000 after buying an additional 637 shares in the last quarter. Amalgamated Bank raised its position in shares of Alexander & Baldwin by 3.3% in the third quarter. Amalgamated Bank now owns 21,401 shares of the financial services provider’s stock valued at $389,000 after buying an additional 682 shares during the last quarter. Polymer Capital Management US LLC raised its position in shares of Alexander & Baldwin by 4.2% in the third quarter. Polymer Capital Management US LLC now owns 17,293 shares of the financial services provider’s stock valued at $315,000 after buying an additional 703 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Alexander & Baldwin by 3.5% in the second quarter. Daiwa Securities Group Inc. now owns 25,974 shares of the financial services provider’s stock worth $463,000 after buying an additional 884 shares in the last quarter. 91.29% of the stock is owned by institutional investors and hedge funds.

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.