Alta Equipment Group Inc. (NYSE:ALTG) Declares $0.06 Quarterly Dividend

Alta Equipment Group Inc. (NYSE:ALTG) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.057 per share on Friday, May 31st. This represents a $0.23 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, May 14th.

Alta Equipment Group has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Alta Equipment Group to earn $0.52 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 44.2%.

Alta Equipment Group Stock Performance

ALTG stock traded up $0.14 on Friday, hitting $11.70. The company had a trading volume of 236,272 shares, compared to its average volume of 301,958. The stock has a market cap of $383.71 million, a price-to-earnings ratio of 64.97 and a beta of 1.67. 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’s 50-day simple moving average is $11.90 and its 200 day simple moving average is $11.31. Alta Equipment Group has a 12-month low of $8.76 and a 12-month high of $17.98.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ALTG. B. Riley restated a “buy” rating and set a $22.00 target price (down previously from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th. DA Davidson restated a “buy” rating and issued a $22.00 target price on shares of Alta Equipment Group in a report on Friday, March 15th.

Insider Buying and Selling

In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.45, for a total value of $197,191.90. Following the completion of the sale, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $11.45, for a total value of $197,191.90. Following the completion of the sale, the chief financial officer now directly owns 156,609 shares of the company’s stock, valued at approximately $1,793,173.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Greenawalt sold 34,951 shares of the business’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 completion of the sale, the chief executive officer now directly owns 5,842,625 shares of the company’s stock, valued at $66,372,220. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,816,886 shares of company stock valued at $31,011,780. Company insiders own 20.90% of the company’s stock.

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.