Alta Equipment Group Inc. (NYSE:ALTG) Plans Quarterly Dividend of $0.06

Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.057 per share on Friday, May 31st. This represents a $0.23 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, May 14th.

Alta Equipment Group has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Alta Equipment Group to earn $0.52 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 44.2%.

Alta Equipment Group Stock Performance

Shares of ALTG traded up $0.14 during trading hours on Friday, hitting $11.70. The company had a trading volume of 236,272 shares, compared to its average volume of 301,958. The firm has a market cap of $383.71 million, a price-to-earnings ratio of 64.97 and a beta of 1.67. The business has a fifty day moving average of $11.90 and a 200-day moving average of $11.31. Alta Equipment Group has a 12 month low of $8.76 and a 12 month high of $17.98. The company has a quick ratio of 0.48, a current ratio of 1.32 and a debt-to-equity ratio of 4.40.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The business had revenue of $521.50 million for the quarter, compared to the consensus estimate of $478.68 million. Alta Equipment Group had a return on equity of 8.60% and a net margin of 0.47%. Equities analysts anticipate that Alta Equipment Group will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DA Davidson reiterated a "buy" rating and set a $22.00 target price on shares of Alta Equipment Group in a research report on Friday, March 15th. B. Riley reiterated a "buy" rating and set a $22.00 target price (down from $25.00) on shares of Alta Equipment Group in a research report on Friday, March 15th.

Insider Buying and Selling at Alta Equipment Group

In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of the business's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.45, for a total transaction of $197,191.90. Following the completion of the sale, the chief financial officer now owns 156,609 shares in the company, valued at approximately $1,793,173.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alta Equipment Group news, CFO Anthony Colucci sold 17,222 shares of Alta Equipment Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.45, for a total transaction of $197,191.90. Following the transaction, the chief financial officer now directly owns 156,609 shares of the company's stock, valued at approximately $1,793,173.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Craig Brubaker sold 7,405 shares of Alta Equipment Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.77, for a total transaction of $87,156.85. Following the transaction, the chief operating officer now directly owns 95,077 shares in the company, valued at $1,119,056.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,816,886 shares of company stock worth $31,011,780. 20.90% of the stock is owned by corporate insiders.

Alta Equipment Group Company Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.

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