Bank of New York Mellon Corp Invests $3.30 Million in Alliance Laundry Holdings Inc. $ALH

Key Points

• Bank of New York Mellon initiated a 124,389-share stake in Alliance Laundry Holdings valued at approximately $3.30 million, representing about 0.06% of the company.
• Analysts maintain a generally positive view, with four Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $31.20. Citigroup and JPMorgan recently raised their targets to $31 and $32, respectively.
• Alliance Laundry exceeded quarterly earnings expectations, reporting $0.41 in EPS versus the $0.35 consensus on $476.75 million in revenue. However, insiders sold 212,528 shares worth approximately $5.44 million during the quarter.

Bank of New York Mellon Corp bought a new stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 124,389 shares of the company's stock, valued at approximately $3,299,000. Bank of New York Mellon Corp owned about 0.06% of Alliance Laundry at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BDT Capital Partners LLC purchased a new stake in Alliance Laundry in the fourth quarter valued at approximately $2,864,297,000. Capital International Investors purchased a new position in Alliance Laundry during the fourth quarter worth approximately $101,498,000. Vanguard Group Inc. acquired a new position in shares of Alliance Laundry in the 4th quarter valued at $76,161,000. Norges Bank purchased a new stake in shares of Alliance Laundry during the 4th quarter valued at $55,962,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Alliance Laundry during the 4th quarter worth $48,234,000.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALH. Citigroup increased their target price on Alliance Laundry from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of Alliance Laundry in a research note on Friday, August 7th. Zacks Research downgraded Alliance Laundry from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Alliance Laundry from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Finally, Morgan Stanley boosted their target price on Alliance Laundry from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.20.

Alliance Laundry Stock Up 0.2%

Shares of Alliance Laundry stock opened at $22.77 on Monday. Alliance Laundry Holdings Inc. has a 1-year low of $18.64 and a 1-year high of $28.23. The company has a market capitalization of $4.53 billion and a PE ratio of 25.02. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14. The business has a 50-day moving average of $25.25 and a 200-day moving average of $24.22.

Alliance Laundry (NYSE:ALH - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $476.75 million for the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. As a group, equities analysts forecast that Alliance Laundry Holdings Inc. will post 1.34 EPS for the current fiscal year.

Insider Activity at Alliance Laundry

In other news, insider Amanda Kopetsky sold 13,472 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total transaction of $363,744.00. Following the transaction, the insider owned 7,331 shares of the company's stock, valued at approximately $197,937. This trade represents a 64.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brian Christopher Sikora sold 17,500 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.15, for a total value of $457,625.00. Following the completion of the sale, the chief accounting officer directly owned 13,951 shares of the company's stock, valued at approximately $364,818.65. This represents a 55.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 212,528 shares of company stock worth $5,439,521 over the last quarter. Company insiders own 7.60% of the company's stock.

Alliance Laundry Profile

Alliance Laundry Systems NYSE: ALH is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.

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