Alta Equipment Group's Board approved a quarterly dividend of $0.057 per share, payable on February 28, 2025.
Quiver AI Summary
Alta Equipment Group Inc. announced the approval of a quarterly dividend of $0.057 per share on its common stock, set to be paid on February 28, 2025, to shareholders recorded by February 15, 2025. The company, a prominent provider of material handling, construction, and environmental processing equipment, has been in operation for 40 years and maintains a vast dealership network across multiple states in the U.S. and Canada, with over 85 locations. Alta offers a comprehensive range of specialized equipment and services, positioning itself as a one-stop shop for customers' equipment needs.
Potential Positives
- Approval of a quarterly dividend of $0.057 per share indicates the company's commitment to returning value to its shareholders.
- The dividend demonstrates the company's financial stability and positive cash flow, as it can afford to reward its investors.
- The dividend payment date and record date provide a clear timeline for investors, promoting transparency and confidence in the company's governance.
- Alta's extensive branch network and diverse product offerings highlight its strong market presence and operational capabilities in the equipment dealership industry.
Potential Negatives
- The quarterly dividend amount of $0.057 per share may be perceived as relatively low, which could indicate limited capacity for higher returns to shareholders.
- The announcement of a dividend could suggest that the company has not identified more profitable reinvestment opportunities, potentially raising concerns about future growth prospects.
FAQ
What is the quarterly dividend amount declared by Alta Equipment Group?
Alta Equipment Group declared a quarterly dividend of $0.057 per share on its common stock.
When will the dividend payment be made?
The dividend payment date is February 28, 2025.
Who are the shareholders eligible for the dividend?
Shareholders of record at the close of business on February 15, 2025, are eligible for the dividend.
What types of equipment does Alta Equipment Group provide?
Alta Equipment Group offers material handling, construction, and environmental processing equipment and related services.
How many locations does Alta Equipment Group operate?
Alta Equipment Group operates over 85 locations across various states in the U.S. and Canada.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ALTG Insider Trading Activity
$ALTG insiders have traded $ALTG stock on the open market 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $ALTG stock by insiders over the last 6 months:
- CAPITAL, LP VOSS sold 11,311 shares for an estimated $71,344
- ANDREW P STUDDERT purchased 10,000 shares for an estimated $56,478
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ALTG Hedge Fund Activity
We have seen 53 institutional investors add shares of $ALTG stock to their portfolio, and 64 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILL ROAD CAPITAL MANAGEMENT LLC added 650,214 shares (+18.2%) to their portfolio in Q3 2024, for an estimated $4,382,442
- PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. removed 456,500 shares (-62.7%) from their portfolio in Q3 2024, for an estimated $3,076,810
- 272 CAPITAL LP removed 430,742 shares (-88.0%) from their portfolio in Q3 2024, for an estimated $2,903,201
- PALOMA PARTNERS MANAGEMENT CO added 392,633 shares (+inf%) to their portfolio in Q3 2024, for an estimated $2,646,346
- CASTLEKNIGHT MANAGEMENT LP added 317,914 shares (+inf%) to their portfolio in Q3 2024, for an estimated $2,142,740
- ESSEX INVESTMENT MANAGEMENT CO LLC removed 193,176 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,302,006
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 182,455 shares (-76.6%) from their portfolio in Q3 2024, for an estimated $1,229,746
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LIVONIA, Mich., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Alta Equipment Group Inc. (NYSE: ALTG) (“Alta” or "the Company"), a leading provider of premium material handling, construction and environmental processing equipment and related services, today announced that its Board of Directors approved the quarterly dividend on its common stock in the amount of $0.057 per share. The dividend payment date is February 28, 2025, to shareholders of record at the close of business on February 15, 2025.
About Alta Equipment Group Inc.
Alta owns and operates one of the largest integrated equipment dealership platforms in North America. Through our branch network, the Company sells, rents, and provides parts and service support for several 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, other construction equipment and allied products. Alta has operated as an equipment dealership for 40 years and has developed a branch network that includes over 85 total locations across Michigan, Illinois, Indiana, Ohio, Pennsylvania, Massachusetts, Maine, Connecticut, New Hampshire, Vermont, Rhode Island, New York, Virginia, Nevada and Florida and the Canadian provinces of Ontario and Quebec. Alta offers its customers a one-stop-shop for their equipment needs through its broad, industry-leading product portfolio. More information can be found at
www.altg.com
.
Contacts
Investors:
Kevin Inda
SCR Partners, LLC
[email protected]
(225) 772-0254
Media:
Glenn Moore
Alta Equipment
[email protected]
(248) 305-2134