Alexander & Baldwin Inc (ALEX) Short Interest Up 139.0% in January

Alexander & Baldwin Inc (NYSE:ALEX) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,573,589 shares, a growth of 139.0% from the January 12th total of 658,452 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 457,681 shares, the days-to-cover ratio is currently 3.4 days.

Alexander & Baldwin (ALEX) opened at $22.85 on Wednesday. Alexander & Baldwin has a 52 week low of $21.78 and a 52 week high of $46.96. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1,120.00, a price-to-earnings ratio of 19.70 and a beta of 1.26.

The business also recently announced a special dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Wednesday, November 29th were issued a $15.92 dividend. This is a boost from Alexander & Baldwin’s previous special dividend of $0.04. The ex-dividend date of this dividend was Tuesday, November 28th. Alexander & Baldwin’s dividend payout ratio is presently 12.07%.

In other Alexander & Baldwin news, CEO Christopher J. Benjamin sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $28.85, for a total value of $144,250.00. Following the completion of the transaction, the chief executive officer now directly owns 555 shares of the company’s stock, valued at $16,011.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley M. Kuriyama sold 6,300 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $27.45, for a total value of $172,935.00. Following the transaction, the director now directly owns 306,258 shares of the company’s stock, valued at $8,406,782.10. The disclosure for this sale can be found here. Insiders sold 21,300 shares of company stock valued at $605,685 over the last three months. 7.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of ALEX. Schroder Investment Management Group purchased a new stake in Alexander & Baldwin in the 4th quarter valued at $158,000. Essex Investment Management Co. LLC purchased a new stake in Alexander & Baldwin in the 3rd quarter valued at $208,000. Daiwa Securities Group Inc. purchased a new stake in Alexander & Baldwin in the 3rd quarter valued at $208,000. OLD National Bancorp IN purchased a new stake in Alexander & Baldwin in the 3rd quarter valued at $224,000. Finally, Jane Street Group LLC purchased a new stake in Alexander & Baldwin in the 3rd quarter valued at $271,000. Institutional investors own 52.24% of the company’s stock.

ALEX has been the subject of several research analyst reports. TheStreet downgraded Alexander & Baldwin from a “b-” rating to a “c” rating in a research note on Tuesday, November 28th. BidaskClub downgraded Alexander & Baldwin from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th.

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Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc (A&B) is a real estate company. The Company operates through three segments: Commercial Real Estate, Land Operations, and Materials and Construction. In addition to its 15 retail centers in Hawaii, the Company owned seven industrial assets, seven office properties and a portfolio of urban ground leases comprising 106 acres in Hawaii, as of December 31, 2016.

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