Alexander & Baldwin, Inc. (NYSE:ALEX - Get Free Report) VP Meredith J. Ching sold 700 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $16.04, for a total transaction of $11,228.00. Following the transaction, the vice president now owns 151,049 shares of the company's stock, valued at approximately $2,422,825.96. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Alexander & Baldwin Trading Down 3.1 %
Shares of Alexander & Baldwin stock opened at $15.99 on Friday. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The firm's 50 day simple moving average is $17.50 and its two-hundred day simple moving average is $18.18. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 25.78 and a beta of 1.03.
Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.15. The company had revenue of $62.45 million during the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Analysts predict that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.
Alexander & Baldwin Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a dividend of $0.225 per share. This is an increase from Alexander & Baldwin's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.63%. Alexander & Baldwin's payout ratio is 107.14%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on ALEX shares. JMP Securities reaffirmed a "market perform" rating on shares of Alexander & Baldwin in a report on Monday, January 6th. StockNews.com lowered Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Finally, Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, February 28th.
Get Our Latest Stock Analysis on Alexander & Baldwin
Hedge Funds Weigh In On Alexander & Baldwin
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its stake in Alexander & Baldwin by 284.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,239 shares during the period. Versant Capital Management Inc lifted its position in Alexander & Baldwin by 90.0% during the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 1,034 shares during the period. Wealthfront Advisers LLC purchased a new stake in Alexander & Baldwin in the fourth quarter valued at $112,000. Point72 Asset Management L.P. boosted its holdings in Alexander & Baldwin by 35.1% in the third quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 2,363 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Alexander & Baldwin during the 4th quarter worth about $206,000. Institutional investors and hedge funds own 91.29% of the company's stock.
About Alexander & Baldwin
(
Get Free Report)
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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