Allspring Global Investments Holdings LLC Raises Holdings in Alto Ingredients, Inc. (NASDAQ:ALTO)

Allspring Global Investments Holdings LLC boosted its stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTOGet Rating) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,644,055 shares of the company’s stock after acquiring an additional 12,999 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alto Ingredients were worth $9,623,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ALTO. State Street Corp increased its holdings in Alto Ingredients by 84.5% during the 2nd quarter. State Street Corp now owns 8,862,664 shares of the company’s stock worth $32,880,000 after purchasing an additional 4,059,483 shares during the period. Invesco Ltd. increased its holdings in Alto Ingredients by 334.1% during the 1st quarter. Invesco Ltd. now owns 928,302 shares of the company’s stock worth $6,331,000 after purchasing an additional 714,441 shares during the period. Renaissance Technologies LLC purchased a new stake in Alto Ingredients during the 1st quarter worth about $4,429,000. Dimensional Fund Advisors LP increased its holdings in shares of Alto Ingredients by 43.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,046,461 shares of the company’s stock valued at $13,957,000 after acquiring an additional 623,433 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in shares of Alto Ingredients by 195.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 820,264 shares of the company’s stock valued at $3,043,000 after acquiring an additional 542,453 shares during the last quarter. Hedge funds and other institutional investors own 52.20% of the company’s stock.

Alto Ingredients Stock Up 0.6 %

Shares of NASDAQ ALTO opened at $3.23 on Friday. The stock has a market cap of $238.88 million, a PE ratio of 9.23 and a beta of 2.41. The company has a quick ratio of 2.30, a current ratio of 3.42 and a debt-to-equity ratio of 0.14. Alto Ingredients, Inc. has a 52-week low of $2.61 and a 52-week high of $7.37. The business has a 50-day moving average price of $3.23 and a 200 day moving average price of $3.81.

Alto Ingredients (NASDAQ:ALTOGet Rating) last announced its earnings results on Monday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.26). Alto Ingredients had a net margin of 1.98% and a return on equity of 3.49%. The firm had revenue of $336.88 million during the quarter, compared to analyst estimates of $328.07 million. Equities research analysts forecast that Alto Ingredients, Inc. will post -0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright dropped their price objective on Alto Ingredients to $10.00 in a report on Tuesday, November 15th. TheStreet downgraded Alto Ingredients from a “b-” rating to a “c” rating in a report on Tuesday, November 8th. Finally, Craig Hallum dropped their price objective on Alto Ingredients to $6.00 in a report on Tuesday, November 15th.

Alto Ingredients Profile

(Get Rating)

Alto Ingredients, Inc produces and markets specialty alcohols and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Production, and Other Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages, flavor extracts, and vinegar, as well as corn germ used in corn oils and carbon dioxide for food and beverage markets; and essential ingredients include dried yeast, corn gluten meal, corn gluten feed, distillers grains, and liquid feed for commercial animal feed and pet food applications.

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Institutional Ownership by Quarter for Alto Ingredients (NASDAQ:ALTO)

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