443,314 Shares in Alto Ingredients, Inc. $ALTO Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 443,314 shares of Alto Ingredients during the second quarter, valued at approximately $2.53 million and representing a 0.57% stake. Institutional investors and hedge funds collectively own 42.44% of the company.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and a $10.00 price target; one analyst rates the stock Buy while two rate it Hold.
• Alto Ingredients exceeded quarterly expectations, reporting $0.15 in EPS versus an $0.08 estimate and revenue of $245.7 million versus $231.24 million expected. Director Gilbert E. Nathan also purchased 50,000 shares, increasing his holdings by 6.2%.

Empowered Funds LLC bought a new position in shares of Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 443,314 shares of the company's stock, valued at approximately $2,527,000. Empowered Funds LLC owned 0.57% of Alto Ingredients at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new stake in shares of Alto Ingredients during the 4th quarter worth approximately $33,000. Legal & General Group Plc purchased a new stake in shares of Alto Ingredients during the 2nd quarter valued at approximately $41,000. Leonteq Securities AG acquired a new position in Alto Ingredients in the fourth quarter valued at approximately $44,000. CreativeOne Wealth LLC acquired a new position in Alto Ingredients in the fourth quarter valued at approximately $46,000. Finally, Bank of New York Mellon Corp purchased a new position in Alto Ingredients in the first quarter worth approximately $49,000. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALTO has been the subject of several recent analyst reports. Scotiabank set a $10.00 target price on Alto Ingredients in a research note on Thursday, August 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Alto Ingredients in a report on Friday, July 31st. Zacks Research downgraded Alto Ingredients from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, HC Wainwright reissued a "buy" rating on shares of Alto Ingredients in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.00.

Alto Ingredients Stock Performance

Shares of Alto Ingredients stock opened at $4.11 on Thursday. The stock has a market capitalization of $318.81 million, a price-to-earnings ratio of 6.13 and a beta of 0.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.19 and a quick ratio of 2.17. The business has a 50-day moving average of $4.82 and a 200 day moving average of $4.64. Alto Ingredients, Inc. has a 12 month low of $0.92 and a 12 month high of $6.11.

Alto Ingredients (NASDAQ:ALTO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The company had revenue of $245.70 million for the quarter, compared to analyst estimates of $231.24 million. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. As a group, sell-side analysts forecast that Alto Ingredients, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Alto Ingredients

In other Alto Ingredients news, Director Gilbert E. Nathan bought 50,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average cost of $4.15 per share, with a total value of $207,500.00. Following the purchase, the director directly owned 856,393 shares in the company, valued at approximately $3,554,030.95. This represents a 6.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.28% of the company's stock.

Alto Ingredients Profile

Alto Ingredients, Inc NASDAQ: ALTO is a diversified producer of alcohol-based products and specialty ingredients for industrial, food, beverage and personal care applications. The company’s core offering centers on ethanol produced for fuel markets, as well as an expanding portfolio of natural and organic alcohols, glycerin and other ingredient solutions. Alto’s product lines serve a range of end markets, including renewable fuels, confectionery, flavorings, cosmetics and sanitizers.

Headquartered in Dallas, Texas, Alto Ingredients operates a network of production facilities across the United States.

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