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

Alexander & Baldwin Holdings, Inc. (NYSE:ALEX) VP Meredith Ching sold 700 shares of the firm’s stock in a transaction 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 transaction, the vice president directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alexander & Baldwin Trading Down 2.3%

Shares of Alexander & Baldwin stock opened at $18.44 on Friday. 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 firm has a fifty day moving average price of $18.40 and a 200 day moving average price of $17.78. Alexander & Baldwin Holdings, Inc. has a 1 year low of $15.70 and a 1 year high of $20.11. The stock has a market cap of $1.34 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07.

Alexander & Baldwin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Friday, September 12th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. Alexander & Baldwin’s payout ratio is presently 84.11%.

Institutional Trading of Alexander & Baldwin

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Alexander & Baldwin by 321.2% in the fourth quarter. Bank of America Corp DE now owns 355,240 shares of the financial services provider’s stock valued at $6,302,000 after purchasing an additional 270,907 shares during the period. Northern Trust Corp grew its position in shares of Alexander & Baldwin by 23.5% in the fourth quarter. Northern Trust Corp now owns 1,020,845 shares of the financial services provider’s stock valued at $18,110,000 after purchasing an additional 194,534 shares during the period. HighTower Advisors LLC grew its position in shares of 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 purchasing an additional 23,322 shares during the period. GAMMA Investing LLC grew its position in shares of 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 valued at $584,000 after purchasing an additional 32,442 shares during the period. Finally, Diversified Trust Co acquired a new stake in shares of Alexander & Baldwin in the first quarter valued at about $606,000. Institutional investors and hedge funds own 91.29% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Alexander & Baldwin in a report on Tuesday, September 2nd. One research 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 a consensus rating of “Moderate Buy” and an average 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.