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

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 J. Ching sold 700 shares of Alexander & Baldwin stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $18.76, for a total value of $13,132.00. Following the completion of the transaction, the vice president owned 147,549 shares of the company's stock, valued at approximately $2,768,019.24. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX traded up $0.04 during mid-day trading on Tuesday, hitting $18.18. The company had a trading volume of 219,603 shares, compared to its average volume of 428,740. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.65 and a beta of 1.07. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.70 and a 1 year high of $20.11. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.44. The stock's 50-day moving average price is $18.41 and its 200-day moving average price is $17.78.

Alexander & Baldwin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Friday, September 12th will be given a $0.225 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Alexander & Baldwin's payout ratio is 84.11%.

Institutional Investors Weigh In On Alexander & Baldwin

Several hedge funds and other institutional investors have recently made changes to their positions in ALEX. Evelyn Partners Asset Management Ltd bought a new stake in Alexander & Baldwin in the 2nd quarter worth about $25,000. Jones Financial Companies Lllp bought a new stake in Alexander & Baldwin in the 1st quarter worth about $41,000. Parallel Advisors LLC grew its position in shares of Alexander & Baldwin by 76.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,462 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 1,069 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Alexander & Baldwin during the 2nd quarter valued at approximately $46,000. Finally, CWM LLC grew its position in shares of Alexander & Baldwin by 188.2% during the 2nd quarter. CWM LLC now owns 3,213 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 2,098 shares during the period. 91.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a "market perform" rating on shares of Alexander & Baldwin in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alexander & Baldwin presently has a consensus rating of "Moderate Buy" 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.