Insider Selling: Alexander & Baldwin, Inc. (NYSE:ALEX) VP Sells 700 Shares of Stock

Alexander & Baldwin, Inc. (NYSE:ALEX) VP Meredith J. Ching sold 700 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $19.25, for a total transaction of $13,475.00. Following the sale, the vice president now owns 149,867 shares of the company’s stock, valued at approximately $2,884,939.75. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Alexander & Baldwin Stock Up 1.2 %

Shares of ALEX stock traded up $0.22 on Friday, hitting $19.30. The stock had a trading volume of 245,106 shares, compared to its average volume of 322,295. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 31.13 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. Alexander & Baldwin, Inc. has a 12-month low of $15.53 and a 12-month high of $20.30. The business has a 50 day moving average of $19.09 and a 200 day moving average of $18.17.

Analyst Ratings Changes

ALEX has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. StockNews.com raised Alexander & Baldwin from a “hold” rating to a “buy” rating in a report on Friday. Finally, Alliance Global Partners started coverage on Alexander & Baldwin in a research note on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Institutional Trading of Alexander & Baldwin

A number of hedge funds and other institutional investors have recently modified their holdings of ALEX. Clearbridge Investments LLC lifted its position in Alexander & Baldwin by 24.4% during the first quarter. Clearbridge Investments LLC now owns 623,284 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 122,286 shares during the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Alexander & Baldwin in the 2nd quarter valued at $948,000. Harbor Capital Advisors Inc. raised its holdings in shares of Alexander & Baldwin by 101.0% during the third quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider’s stock worth $4,256,000 after purchasing an additional 111,392 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of Alexander & Baldwin by 2.9% during the 3rd quarter. Reinhart Partners LLC. now owns 2,553,912 shares of the financial services provider’s stock worth $49,035,000 after purchasing an additional 72,240 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Alexander & Baldwin by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 7,383 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (NYSE: ALEX) (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai’i commercial real estate and is the state’s largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai’i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.