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

Key Points

• Meredith Ching, VP of Alexander & Baldwin, sold 700 shares at an average price of $16.76, totaling $11,732, reducing her ownership by 0.47%.
• The company declared a quarterly dividend of $0.225 per share, yielding 5.4% annually, with a payout ratio of 84.11%.
• Alexander & Baldwin's stock was recently rated "Hold" by Weiss Ratings, with a consensus price target of $24.00 from analysts.

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

Alexander & Baldwin Price Performance

Shares of ALEX traded down $0.36 during mid-day trading on Friday, reaching $16.52. 374,428 shares of the stock traded hands, compared to its average volume of 433,718. The firm has a fifty day moving average price of $18.40 and a 200 day moving average price of $17.81. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.70 and a 1 year high of $19.97.

Alexander & Baldwin Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. grew its position 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 worth $397,000 after acquiring an additional 637 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $50,000 after acquiring an additional 942 shares in the last quarter. Caxton Associates LLP purchased a new position in Alexander & Baldwin in the second quarter worth $567,000. Public Sector Pension Investment Board boosted its position in Alexander & Baldwin by 7.6% during 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 buying an additional 17,601 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in Alexander & Baldwin by 3.0% during 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 buying an additional 4,687 shares during the period. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. Weiss Ratings lowered shares of Alexander & Baldwin from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.

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