Insider Selling: Alexander & Baldwin, Inc. (NYSE:ALEX) VP Sells $13,475.00 in Stock

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

Alexander & Baldwin Price Performance

Alexander & Baldwin stock opened at $19.30 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 31.13 and a beta of 1.26. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The firm has a 50 day moving average price of $19.09 and a 200 day moving average price of $18.18.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Alexander & Baldwin from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research note on Friday, October 25th. Finally, Alliance Global Partners began coverage on Alexander & Baldwin in a research report on Thursday, August 8th. They issued a “buy” rating and a $22.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Institutional Trading of Alexander & Baldwin

Several institutional investors have recently made changes to their positions in ALEX. Allspring Global Investments Holdings LLC purchased a new stake in Alexander & Baldwin during the first quarter valued at about $41,000. BNP Paribas Financial Markets grew its stake in Alexander & Baldwin by 18.7% during the first quarter. BNP Paribas Financial Markets now owns 46,859 shares of the financial services provider’s stock worth $772,000 after buying an additional 7,383 shares during the period. Janney Montgomery Scott LLC grew its stake in Alexander & Baldwin by 42.9% during the first quarter. Janney Montgomery Scott LLC now owns 14,552 shares of the financial services provider’s stock worth $240,000 after buying an additional 4,366 shares during the period. Texas Permanent School Fund Corp increased its position in shares of Alexander & Baldwin by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 63,483 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 822 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Alexander & Baldwin by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 14,626 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 1,001 shares during the period. 91.29% of the stock is owned by hedge funds and other institutional investors.

About Alexander & Baldwin

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.