BlackRock Inc. Acquires Shares of 5,495,025 Alto Ingredients, Inc. $ALTO

Key Points

• BlackRock acquired 5,495,025 shares of Alto Ingredients during the second quarter, worth approximately $31.3 million and representing about 7.09% of the company.
• Alto Ingredients reported quarterly EPS of $0.15, exceeding the $0.08 consensus estimate, while revenue reached $245.7 million versus expectations of $231.2 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $10 average price target; the stock opened at $4.02 and has a 12-month range of $0.92 to $6.11.

BlackRock Inc. bought a new position in shares of Alto Ingredients, Inc. (NASDAQ:ALTO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,495,025 shares of the company's stock, valued at approximately $31,322,000. BlackRock Inc. owned about 7.09% of Alto Ingredients as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vontobel Holding Ltd. purchased a new position in shares of Alto Ingredients in the fourth quarter worth about $33,000. Leonteq Securities AG acquired a new position in Alto Ingredients during the fourth quarter worth about $44,000. CreativeOne Wealth LLC purchased a new stake in Alto Ingredients during the 4th quarter valued at about $46,000. Bank of New York Mellon Corp purchased a new stake in Alto Ingredients during the 1st quarter valued at about $49,000. Finally, Virtu Financial LLC acquired a new stake in Alto Ingredients in the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating on shares of Alto Ingredients in a report on Thursday, August 6th. Zacks Research cut Alto Ingredients from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Alto Ingredients in a research report on Friday, July 31st. Finally, Scotiabank set a $10.00 price objective on Alto Ingredients in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Alto Ingredients currently has a consensus rating of "Hold" and an average target price of $10.00.

Alto Ingredients Trading Up 1.5%

NASDAQ ALTO opened at $4.02 on Wednesday. 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 stock has a market capitalization of $311.83 million, a P/E ratio of 6.00 and a beta of 0.16. The firm's 50-day moving average is $4.84 and its two-hundred day moving average is $4.63. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. The business had revenue of $245.70 million for the quarter, compared to the consensus estimate of $231.24 million. On average, sell-side analysts anticipate that Alto Ingredients, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Alto Ingredients

In other news, Director Gilbert E. Nathan acquired 50,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $4.15 per share, with a total value of $207,500.00. Following the completion of the purchase, the director owned 856,393 shares of the company's stock, valued at $3,554,030.95. This represents a 6.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.28% of the stock is currently owned by corporate insiders.

About Alto Ingredients

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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