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

The Manufacturers Life Insurance Company boosted its stake in shares of Alto Ingredients, Inc. (NASDAQ:ALTO) by 48.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 351,748 shares of the company’s stock after acquiring an additional 114,571 shares during the period. The Manufacturers Life Insurance Company owned about 0.46% of Alto Ingredients worth $508,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Marshall Wace LLP acquired a new position in Alto Ingredients during the second quarter worth $202,000. Renaissance Technologies LLC boosted its stake in shares of Alto Ingredients by 53.4% in the second quarter. Renaissance Technologies LLC now owns 1,677,121 shares of the company’s stock valued at $2,423,000 after purchasing an additional 583,967 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of Alto Ingredients in the second quarter valued at approximately $400,000. Virtu Financial LLC acquired a new stake in Alto Ingredients in the first quarter valued at approximately $68,000. Finally, Acadian Asset Management LLC raised its holdings in Alto Ingredients by 8.6% in the first quarter. Acadian Asset Management LLC now owns 585,846 shares of the company’s stock valued at $1,276,000 after acquiring an additional 46,454 shares in the last quarter. 42.44% of the stock is currently owned by institutional investors and hedge funds.

Alto Ingredients Stock Performance

NASDAQ:ALTO opened at $1.71 on Thursday. The firm’s fifty day moving average price is $1.52 and its 200 day moving average price is $1.61. Alto Ingredients, Inc. has a 1-year low of $1.28 and a 1-year high of $4.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.09 and a quick ratio of 2.09. The firm has a market cap of $129.44 million, a price-to-earnings ratio of -4.50 and a beta of 1.98.

Alto Ingredients (NASDAQ:ALTO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. The company had revenue of $236.47 million for the quarter, compared to analyst estimates of $236.17 million. Alto Ingredients had a negative net margin of 3.49% and a negative return on equity of 11.26%. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts expect that Alto Ingredients, Inc. will post -0.04 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $5.50 price objective on shares of Alto Ingredients in a report on Wednesday, August 7th.

Alto Ingredients Company Profile

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.