395,855 Shares in Alta Equipment Group Inc. (NYSE:ALTG) Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC acquired a new position in shares of Alta Equipment Group Inc. (NYSE:ALTG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 395,855 shares of the company’s stock, valued at approximately $2,589,000.

Several other hedge funds have also added to or reduced their stakes in ALTG. Mill Road Capital Management LLC raised its stake in Alta Equipment Group by 18.2% during the 3rd quarter. Mill Road Capital Management LLC now owns 4,213,208 shares of the company’s stock worth $28,397,000 after buying an additional 650,214 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Alta Equipment Group in the 3rd quarter valued at about $2,646,000. AlphaQuest LLC raised its stake in shares of Alta Equipment Group by 4,768.3% in the 4th quarter. AlphaQuest LLC now owns 49,316 shares of the company’s stock valued at $323,000 after purchasing an additional 48,303 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alta Equipment Group by 167.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,418 shares of the company’s stock valued at $347,000 after purchasing an additional 32,218 shares during the period. Finally, Barclays PLC raised its stake in shares of Alta Equipment Group by 302.8% in the 3rd quarter. Barclays PLC now owns 38,327 shares of the company’s stock valued at $258,000 after purchasing an additional 28,812 shares during the period. Institutional investors and hedge funds own 73.58% of the company’s stock.

Alta Equipment Group Trading Up 8.1 %

Shares of ALTG stock opened at $5.30 on Friday. The firm has a 50 day moving average price of $6.54 and a two-hundred day moving average price of $6.73. The company has a quick ratio of 0.43, a current ratio of 1.35 and a debt-to-equity ratio of 7.45. The company has a market capitalization of $176.09 million, a PE ratio of -3.11 and a beta of 1.81. Alta Equipment Group Inc. has a 12-month low of $4.45 and a 12-month high of $13.67.

Alta Equipment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were given a dividend of $0.057 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.23 annualized dividend and a yield of 4.31%. Alta Equipment Group’s dividend payout ratio (DPR) is presently -11.22%.

Insiders Place Their Bets

In other news, COO Craig Brubaker sold 5,294 shares of Alta Equipment Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.00, for a total value of $26,470.00. Following the completion of the sale, the chief operating officer now directly owns 98,640 shares in the company, valued at approximately $493,200. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their price objective on Alta Equipment Group from $9.00 to $8.50 and set a “market perform” rating for the company in a report on Monday, March 10th.

About Alta Equipment Group

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.