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 company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $16.76, for a total transaction of $11,732.00. Following the completion of the sale, the vice president directly owned 146,849 shares in the company, valued at approximately $2,461,189.24. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alexander & Baldwin Stock Down 2.1%

Shares of ALEX stock opened at $16.52 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.20 and a current ratio of 0.20. The firm’s 50-day moving average is $18.40 and its 200-day moving average is $17.82. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.48 and a beta of 1.04. Alexander & Baldwin Holdings, Inc. has a 52-week low of $15.70 and a 52-week high of $19.97.

Alexander & Baldwin Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. Weiss Ratings cut shares of 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Alexander & Baldwin currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALEX. HighTower Advisors LLC boosted its position in Alexander & Baldwin by 39.1% in the first quarter. HighTower Advisors LLC now owns 82,939 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 23,322 shares in the last quarter. GAMMA Investing LLC grew its holdings in Alexander & Baldwin by 2,211.5% in the first quarter. GAMMA Investing LLC now owns 33,909 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 32,442 shares during the period. Diversified Trust Co acquired a new stake in Alexander & Baldwin in the first quarter worth $606,000. Vanguard Group Inc. grew its holdings in Alexander & Baldwin by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,650,160 shares of the financial services provider’s stock worth $200,732,000 after purchasing an additional 172,992 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Alexander & Baldwin by 468.6% during the first quarter. US Bancorp DE now owns 6,795 shares of the financial services provider’s stock valued at $117,000 after buying an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

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.