Empowered Funds LLC Buys New Shares in Alto Ingredients, Inc. $ALTO

Empowered Funds LLC bought a new position in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 443,314 shares of the company’s stock, valued at approximately $2,527,000.

Several other large investors also recently bought and sold shares of ALTO. Vontobel Holding Ltd. acquired a new stake in Alto Ingredients in the 4th quarter valued at about $33,000. Legal & General Group Plc acquired a new position in shares of Alto Ingredients during the second quarter worth about $41,000. Leonteq Securities AG acquired a new position in shares of Alto Ingredients during the fourth quarter worth about $44,000. CreativeOne Wealth LLC purchased a new stake in shares of Alto Ingredients during the fourth quarter worth approximately $46,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Alto Ingredients during the first quarter worth approximately $49,000. Hedge funds and other institutional investors own 42.44% of the company’s stock.

Alto Ingredients Price Performance

Shares of NASDAQ:ALTO opened at $4.11 on Thursday. The company’s fifty day moving average price is $4.82 and its 200 day moving average price is $4.64. Alto Ingredients, Inc. has a 12 month low of $0.92 and a 12 month high of $6.11. 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 firm has a market capitalization of $318.81 million, a P/E ratio of 6.13 and a beta of 0.16.

Alto Ingredients (NASDAQ:ALTO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $245.70 million during the quarter, compared to the consensus estimate of $231.24 million. Alto Ingredients had a net margin of 5.51% and a return on equity of 18.54%. As a group, sell-side analysts predict that Alto Ingredients, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Alto Ingredients

In other news, Director Gilbert E. Nathan bought 50,000 shares of Alto Ingredients 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 acquisition, the director owned 856,393 shares of the company’s stock, valued at approximately $3,554,030.95. This trade represents a 6.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALTO shares. HC Wainwright reiterated a “buy” rating on shares of Alto Ingredients in a research note on Thursday, August 6th. Zacks Research downgraded shares of Alto Ingredients from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings restated a “hold (c)” rating on shares of Alto Ingredients in a report on Friday, July 31st. Finally, Scotiabank set a $10.00 price objective on shares of Alto Ingredients in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alto Ingredients presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Alto Ingredients Company Profile

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.