Strs Ohio Sells 6,200 Shares of Alta Equipment Group Inc. (NYSE:ALTG)

Strs Ohio decreased its holdings in Alta Equipment Group Inc. (NYSE:ALTG) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,200 shares of the company’s stock after selling 6,200 shares during the quarter. Strs Ohio owned approximately 0.09% of Alta Equipment Group worth $348,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of Alta Equipment Group by 52.7% in the third quarter. Assenagon Asset Management S.A. now owns 245,468 shares of the company’s stock worth $2,960,000 after purchasing an additional 84,678 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Alta Equipment Group in the third quarter worth $4,558,000. Millrace Asset Group Inc. grew its stake in shares of Alta Equipment Group by 62.3% in the third quarter. Millrace Asset Group Inc. now owns 136,735 shares of the company’s stock worth $1,649,000 after purchasing an additional 52,493 shares during the last quarter. Register Financial Advisors LLC grew its stake in shares of Alta Equipment Group by 33.7% in the fourth quarter. Register Financial Advisors LLC now owns 188,730 shares of the company’s stock worth $2,335,000 after purchasing an additional 47,568 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Alta Equipment Group in the third quarter worth $127,000. Institutional investors own 73.58% of the company’s stock.

Alta Equipment Group Stock Performance

Shares of ALTG opened at $11.65 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.48 and a debt-to-equity ratio of 4.40. The stock has a market capitalization of $382.18 million, a P/E ratio of 64.72 and a beta of 1.65. The firm’s fifty day simple moving average is $11.93 and its two-hundred day simple moving average is $11.31. Alta Equipment Group Inc. has a 12 month low of $8.76 and a 12 month high of $17.98.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Alta Equipment Group had a net margin of 0.47% and a return on equity of 8.60%. The firm had revenue of $521.50 million for the quarter, compared to the consensus estimate of $478.68 million. As a group, analysts predict that Alta Equipment Group Inc. will post 0.12 EPS for the current year.

Alta Equipment Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.057 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.23 annualized dividend and a dividend yield of 1.96%. Alta Equipment Group’s dividend payout ratio is currently 122.22%.

Insider Activity

In other news, CEO Ryan Greenawalt sold 34,951 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total transaction of $397,043.36. Following the transaction, the chief executive officer now owns 5,842,625 shares in the company, valued at $66,372,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ryan Greenawalt sold 34,951 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.36, for a total transaction of $397,043.36. Following the transaction, the chief executive officer now owns 5,842,625 shares in the company, valued at $66,372,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Craig Brubaker sold 7,405 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.77, for a total transaction of $87,156.85. Following the transaction, the chief operating officer now owns 95,077 shares in the company, valued at approximately $1,119,056.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,816,886 shares of company stock worth $31,011,780. Company insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

ALTG has been the topic of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and set a $22.00 price target on shares of Alta Equipment Group in a research report on Friday, March 15th. B. Riley reaffirmed a “buy” rating and set a $22.00 price target (down previously from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th.

Alta Equipment Group Company Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.