Alta Equipment Group Inc. (ALTG) To Go Ex-Dividend on November 15th

Alta Equipment Group Inc. (NYSE:ALTG) announced a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.057 per share on Friday, November 29th. This represents a $0.23 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, November 15th.

Alta Equipment Group has a payout ratio of -67.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alta Equipment Group to earn ($0.60) per share next year, which means the company may not be able to cover its $0.23 annual dividend with an expected future payout ratio of -38.3%.

Alta Equipment Group Stock Down 2.4 %

NYSE:ALTG opened at $6.51 on Wednesday. The firm’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $8.05. Alta Equipment Group has a one year low of $5.40 and a one year high of $13.67. The company has a market cap of $215.42 million, a PE ratio of -10.17 and a beta of 1.67. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47.

Alta Equipment Group (NYSE:ALTG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). The company had revenue of $488.10 million for the quarter, compared to the consensus estimate of $497.57 million. Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, research analysts anticipate that Alta Equipment Group will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALTG. Raymond James reissued a “market perform” rating and issued a $10.00 target price (down previously from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th. DA Davidson decreased their price objective on shares of Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Insiders Place Their Bets

In related news, Director Andrew P. Studdert bought 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the purchase, the director now directly owns 86,591 shares of the company’s stock, valued at approximately $489,239.15. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andrew P. Studdert bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $5.65 per share, with a total value of $56,500.00. Following the completion of the acquisition, the director now directly owns 86,591 shares of the company’s stock, valued at $489,239.15. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares of the company’s stock, valued at $6,080,877.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.90% of the company’s stock.

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.