Rhumbline Advisers Has $12.94 Million Stock Holdings in ALLETE, Inc. (NYSE:ALE)

Rhumbline Advisers trimmed its stake in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,947 shares of the utilities provider's stock after selling 12,585 shares during the quarter. Rhumbline Advisers owned 0.34% of ALLETE worth $12,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALE. Empowered Funds LLC bought a new position in shares of ALLETE in the fourth quarter valued at approximately $368,000. Van ECK Associates Corp boosted its stake in ALLETE by 8.3% in the fourth quarter. Van ECK Associates Corp now owns 17,289 shares of the utilities provider's stock worth $1,120,000 after purchasing an additional 1,326 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of ALLETE during the fourth quarter worth $3,201,000. Congress Asset Management Co. increased its stake in shares of ALLETE by 9.6% in the fourth quarter. Congress Asset Management Co. now owns 54,000 shares of the utilities provider's stock valued at $3,499,000 after buying an additional 4,735 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of ALLETE by 3.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 32,525 shares of the utilities provider's stock valued at $2,108,000 after buying an additional 1,164 shares in the last quarter. 76.55% of the stock is owned by institutional investors and hedge funds.

ALLETE Trading Down 0.0%

ALE stock traded down $0.01 during trading on Thursday, hitting $65.14. The company had a trading volume of 317,621 shares, compared to its average volume of 336,290. The firm has a 50-day moving average price of $65.13 and a 200-day moving average price of $65.21. ALLETE, Inc. has a 12 month low of $61.51 and a 12 month high of $65.99. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 21.01 and a beta of 0.80.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. ALLETE had a net margin of 11.72% and a return on equity of 5.97%. The company had revenue of $400.20 million during the quarter, compared to analysts' expectations of $456.30 million. During the same quarter in the previous year, the company earned $0.90 EPS. ALLETE's revenue was down .8% on a year-over-year basis.

ALLETE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a dividend of $0.73 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.92 annualized dividend and a yield of 4.48%. ALLETE's dividend payout ratio is presently 91.54%.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.