Alexander & Baldwin (NYSE:ALEX) VP Sells $13,132.00 in Stock

Key Points

• Meredith Ching, VP of Alexander & Baldwin, sold 700 shares of the company's stock for a total of $13,132.00, resulting in a decrease of 0.47% in ownership.
• The company declared a quarterly dividend of $0.225 per share, representing a yield of 4.8%, with payment set for October 7th.
• Analysts have set a consensus price target of $24.00 for Alexander & Baldwin, with an average rating of "Moderate Buy."

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX - Get Free Report) VP Meredith Ching sold 700 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $18.76, for a total transaction of $13,132.00. Following the completion of the sale, the vice president owned 147,549 shares in the company, valued at $2,768,019.24. The trade was 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 Stock Down 0.7%

NYSE ALEX opened at $18.66 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.20 and a quick ratio of 0.20. The company's 50 day simple moving average is $18.38 and its 200 day simple moving average is $17.78. Alexander & Baldwin Holdings, Inc. has a 12 month low of $15.70 and a 12 month high of $20.11. The company has a market capitalization of $1.36 billion, a P/E ratio of 17.43, a PEG ratio of 1.68 and a beta of 1.07.

Alexander & Baldwin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.8%. Alexander & Baldwin's payout ratio is currently 84.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LLP purchased a new position in Alexander & Baldwin during the second quarter valued at approximately $567,000. Public Sector Pension Investment Board grew 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 purchasing an additional 17,601 shares in the last quarter. CANADA LIFE ASSURANCE Co grew 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 purchasing an additional 4,687 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Alexander & Baldwin by 184.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,668 shares of the financial services provider's stock valued at $101,000 after purchasing an additional 3,674 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Alexander & Baldwin during the second quarter valued at approximately $1,156,000. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

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.

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