The Manufacturers Life Insurance Company Grows Stock Position in Alto Ingredients, Inc. (NASDAQ:ALTO)

The Manufacturers Life Insurance Company grew its holdings in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) by 48.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 351,748 shares of the company’s stock after acquiring an additional 114,571 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alto Ingredients were worth $508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALTO. Empowered Funds LLC acquired a new stake in Alto Ingredients in the first quarter worth $286,000. SG Americas Securities LLC acquired a new position in shares of Alto Ingredients in the 1st quarter valued at $62,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Alto Ingredients in the 1st quarter valued at $131,000. Acadian Asset Management LLC lifted its stake in Alto Ingredients by 8.6% in the 1st quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock worth $1,276,000 after acquiring an additional 46,454 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Alto Ingredients in the 1st quarter worth about $68,000. 42.44% of the stock is owned by institutional investors and hedge funds.

Alto Ingredients Stock Down 1.2 %

Shares of ALTO stock opened at $1.71 on Thursday. The company has a market capitalization of $129.44 million, a price-to-earnings ratio of -4.50 and a beta of 1.98. The stock’s 50 day simple moving average is $1.52 and its 200 day simple moving average is $1.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 3.09. Alto Ingredients, Inc. has a twelve month low of $1.28 and a twelve month high of $4.98.

Alto Ingredients (NASDAQ:ALTO) last released its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Alto Ingredients had a negative return on equity of 11.26% and a negative net margin of 3.49%. The firm had revenue of $236.47 million for the quarter, compared to analyst estimates of $236.17 million. During the same quarter last year, the firm posted $0.10 EPS. As a group, research analysts predict that Alto Ingredients, Inc. will post -0.04 EPS for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.50 price target on shares of Alto Ingredients in a research note on Wednesday, August 7th.

About Alto Ingredients

Alto Ingredients, Inc produces, distributes, and markets specialty alcohols, renewable fuel, and essential ingredients in the United States. The company operates in three segments: Marketing and Distribution, Pekin Campus Production, and Western Production. It offers specialty alcohols used in mouthwash, cosmetics, pharmaceuticals, hand sanitizers, disinfectants, and cleaners for health, home, and beauty markets; grain neutral spirits used in alcoholic beverages and vinegar, as well as corn germ used in corn oils in the food and beverage markets; alcohols and other products for paint applications and fertilizers in the industrial and agriculture markets; and essential ingredients include dried yeast, corn protein meal, corn protein feed, distiller's grains, and liquid feed for commercial animal feed and pet food applications, as well as yeast for human consumption.