Acuitas Investments LLC Increases Stock Position in Alico, Inc. (NASDAQ:ALCO)

Acuitas Investments LLC raised its stake in Alico, Inc. (NASDAQ:ALCO) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,513 shares of the company’s stock after acquiring an additional 14,291 shares during the period. Acuitas Investments LLC owned 1.16% of Alico worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ALCO. Gate City Capital Management LLC acquired a new position in shares of Alico in the 4th quarter valued at $20,583,000. CM Management LLC increased its stake in Alico by 4.7% in the second quarter. CM Management LLC now owns 225,000 shares of the company’s stock valued at $5,830,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alico by 57.0% in the first quarter. Vanguard Group Inc. now owns 160,913 shares of the company’s stock valued at $4,712,000 after buying an additional 58,428 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Alico by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 60,233 shares of the company’s stock valued at $1,561,000 after buying an additional 846 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its stake in shares of Alico by 8.5% during the second quarter. Naples Global Advisors LLC now owns 57,050 shares of the company’s stock worth $1,481,000 after buying an additional 4,450 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Alico Stock Performance

NASDAQ:ALCO opened at $27.96 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.67 and a quick ratio of 0.90. The firm has a market cap of $213.17 million, a price-to-earnings ratio of 5.33 and a beta of 0.79. The firm’s fifty day moving average price is $27.51 and its 200 day moving average price is $27.38. Alico, Inc. has a 1-year low of $23.53 and a 1-year high of $31.00.

Alico (NASDAQ:ALCO) last issued its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The firm had revenue of $13.61 million during the quarter, compared to analysts’ expectations of $17.80 million. Alico had a net margin of 56.13% and a negative return on equity of 6.72%. On average, sell-side analysts expect that Alico, Inc. will post -5.6 EPS for the current year.

Alico Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, June 28th. Alico’s dividend payout ratio (DPR) is 3.81%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Alico to a “sell” rating in a research report on Thursday, August 29th.

Alico Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.