MAC Alpha Capital Management LP Acquires 58,208 Shares of Allison Transmission Holdings, Inc. $ALSN

Key Points

• MAC Alpha Capital Management increased its Allison Transmission stake by 59.4% in the second quarter, acquiring 58,208 shares and bringing its total holdings to 156,191 shares worth approximately $17.6 million.
• Institutional investors own 96.9% of Allison Transmission, while CEO David Graziosi and another insider recently sold shares, reducing their holdings.
• Allison reported quarterly earnings and revenue above analyst expectations, and analysts maintain a “Moderate Buy” consensus with an average price target of $131.17; the company also pays a $0.29 quarterly dividend.

MAC Alpha Capital Management LP boosted its holdings in shares of Allison Transmission Holdings, Inc. (NYSE:ALSN - Free Report) by 59.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,191 shares of the auto parts company's stock after acquiring an additional 58,208 shares during the period. Allison Transmission accounts for approximately 3.5% of MAC Alpha Capital Management LP's investment portfolio, making the stock its 6th biggest position. MAC Alpha Capital Management LP owned about 0.19% of Allison Transmission worth $17,610,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Allison Transmission during the 2nd quarter worth approximately $448,232,000. First Trust Advisors LP increased its holdings in shares of Allison Transmission by 85.2% in the first quarter. First Trust Advisors LP now owns 2,026,603 shares of the auto parts company's stock valued at $237,234,000 after purchasing an additional 932,201 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Allison Transmission by 105.7% in the second quarter. Wasatch Advisors LP now owns 1,510,496 shares of the auto parts company's stock valued at $170,293,000 after purchasing an additional 776,169 shares during the last quarter. Stockbridge Partners LLC purchased a new position in Allison Transmission during the second quarter worth approximately $169,108,000. Finally, Norges Bank purchased a new position in Allison Transmission during the fourth quarter worth approximately $115,674,000. Institutional investors and hedge funds own 96.90% of the company's stock.

Insider Activity

In related news, CEO David Graziosi sold 26,708 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $132.97, for a total transaction of $3,551,362.76. Following the completion of the transaction, the chief executive officer directly owned 304,843 shares in the company, valued at $40,534,973.71. This trade represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Scroggins sold 1,050 shares of Allison Transmission stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $125.00, for a total value of $131,250.00. Following the completion of the transaction, the insider directly owned 16,604 shares of the company's stock, valued at approximately $2,075,500. This represents a 5.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped their target price on Allison Transmission from $126.00 to $130.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on Allison Transmission from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Citigroup lowered their price target on shares of Allison Transmission from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Allison Transmission from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.17.

Allison Transmission Stock Up 0.0%

Allison Transmission stock opened at $117.13 on Monday. Allison Transmission Holdings, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $137.62. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.17 and a current ratio of 1.81. The firm has a 50 day moving average price of $122.71 and a 200 day moving average price of $120.47. The company has a market capitalization of $9.67 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.98.

Allison Transmission (NYSE:ALSN - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The auto parts company reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.25. Allison Transmission had a return on equity of 38.18% and a net margin of 12.02%.The company had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The firm's revenue was up 92.4% compared to the same quarter last year. Research analysts expect that Allison Transmission Holdings, Inc. will post 10.27 earnings per share for the current year.

Allison Transmission Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.16 annualized dividend and a yield of 1.0%. Allison Transmission's dividend payout ratio is presently 18.44%.

About Allison Transmission

Allison Transmission, Inc designs and manufactures fully automatic transmissions and propulsion solutions for commercial and military vehicles. Its products are used in applications including trucks, buses, motorhomes, refuse and construction vehicles, and other medium- and heavy-duty vehicles.

The company also develops electrified propulsion technologies, including hybrid-electric systems and electric axles, as well as transmission controls, parts, service, and support offerings. Its products are marketed to original equipment manufacturers, fleet operators, and distributors worldwide, with customers across North America, Europe, Asia, Australia, and other international markets.

Founded in 1915 by James A.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.