Insider Selling: Alexander & Baldwin Inc (ALEX) Director Sells 6,300 Shares of Stock

Alexander & Baldwin Inc (NYSE:ALEX) Director Stanley M. Kuriyama sold 6,300 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.27, for a total value of $146,601.00. Following the sale, the director now directly owns 331,835 shares of the company’s stock, valued at $7,721,800.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of ALEX traded up $0.06 during trading hours on Friday, hitting $23.76. 251,079 shares of the company were exchanged, compared to its average volume of 328,685. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.64 and a quick ratio of 2.64. Alexander & Baldwin Inc has a one year low of $17.58 and a one year high of $25.69.

Alexander & Baldwin (NYSE:ALEX) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $129.40 million during the quarter, compared to analyst estimates of $89.23 million. Alexander & Baldwin had a negative return on equity of 8.56% and a negative net margin of 16.70%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 2.78%.

Separately, TheStreet raised Alexander & Baldwin from a “d+” rating to a “c-” rating in a research note on Tuesday, January 29th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Alexander & Baldwin by 1,738.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 490,911 shares of the financial services provider’s stock worth $27,000 after buying an additional 464,202 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Alexander & Baldwin by 51.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,647 shares of the financial services provider’s stock worth $30,000 after buying an additional 563 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Alexander & Baldwin in the fourth quarter worth $61,000. Bank of Montreal Can boosted its position in shares of Alexander & Baldwin by 159.7% in the fourth quarter. Bank of Montreal Can now owns 4,033 shares of the financial services provider’s stock worth $74,000 after buying an additional 2,480 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in shares of Alexander & Baldwin in the fourth quarter worth $124,000. 77.58% of the stock is owned by institutional investors and hedge funds.

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Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc is Hawai`i's premier commercial real estate company and the state's foremost owner of grocery-anchored retail centers. A&B is a fully integrated real estate investment trust and owns, operates and manages approximately 3.5 million square feet of primarily retail and industrial space in Hawai`i, and is a major landowner in the state.

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