Alico, Inc. (NASDAQ:ALCO) announced a quarterly dividend on Tuesday, September 14th, Wall Street Journal reports. Investors of record on Friday, September 24th will be given a dividend of 0.50 per share on Friday, October 8th. This represents a $2.00 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Thursday, September 23rd.
Alico has raised its dividend payment by 87.5% over the last three years and has increased its dividend every year for the last 1 years.
ALCO stock opened at $35.76 on Wednesday. Alico has a 1 year low of $26.55 and a 1 year high of $38.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 2.19. The stock’s 50 day moving average price is $36.34 and its 200 day moving average price is $33.11. The firm has a market cap of $269.13 million, a P/E ratio of 5.07 and a beta of 0.50.
In other news, Director Arlon Valencia Holdings Llc sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $36.20, for a total transaction of $181,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is owned by company insiders.
An institutional investor recently raised its position in Alico stock. Morgan Stanley lifted its stake in shares of Alico, Inc. (NASDAQ:ALCO) by 33.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,977 shares of the company’s stock after purchasing an additional 1,765 shares during the period. Morgan Stanley owned about 0.09% of Alico worth $249,000 as of its most recent filing with the SEC. Institutional investors own 41.58% of the company’s stock.
A number of analysts have recently commented on ALCO shares. Roth Capital upped their price objective on Alico from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 6th. Zacks Investment Research upgraded Alico from a “sell” rating to a “hold” rating in a report on Monday, August 16th.
Alico Company Profile
Alico, Inc is a holding company, which engages in the provision of agribusiness and land management. The firm offers environmental services, land leasing, cattle ranching, and related support operations. It operates through the following segments: Alico Citrus, Land Management and Operations. The Alico Citrus segment includes activities related to planting, owning, cultivating, and managing citrus groves in order to produce fruit for sale to fresh, and processed citrus markets.
Featured Article: Strangles
Receive News & Ratings for Alico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alico and related companies with MarketBeat.com's FREE daily email newsletter.