Pinebridge Investments L.P. Raises Stake in Allison Transmission Holdings Inc (ALSN)
Pinebridge Investments L.P. grew its position in Allison Transmission Holdings Inc (NYSE:ALSN) by 35.3% during the second quarter, HoldingsChannel reports. The firm owned 135,716 shares of the auto parts company’s stock after buying an additional 35,420 shares during the quarter. Pinebridge Investments L.P.’s holdings in Allison Transmission were worth $5,495,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. MRJ Capital Inc. raised its holdings in Allison Transmission by 10.5% in the first quarter. MRJ Capital Inc. now owns 16,900 shares of the auto parts company’s stock valued at $660,000 after acquiring an additional 1,600 shares in the last quarter. FDx Advisors Inc. raised its holdings in Allison Transmission by 63.1% in the first quarter. FDx Advisors Inc. now owns 26,600 shares of the auto parts company’s stock valued at $1,039,000 after acquiring an additional 10,286 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Allison Transmission by 19.0% in the first quarter. Wells Fargo & Company MN now owns 560,899 shares of the auto parts company’s stock valued at $21,908,000 after acquiring an additional 89,664 shares in the last quarter. Comerica Bank raised its holdings in Allison Transmission by 13.9% in the first quarter. Comerica Bank now owns 242,544 shares of the auto parts company’s stock valued at $10,104,000 after acquiring an additional 29,579 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Allison Transmission by 80.8% in the first quarter. SG Americas Securities LLC now owns 13,200 shares of the auto parts company’s stock valued at $516,000 after acquiring an additional 5,900 shares in the last quarter.
Shares of Allison Transmission stock opened at $49.11 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.10 and a beta of 1.30. Allison Transmission Holdings Inc has a 52 week low of $32.93 and a 52 week high of $49.31. The company has a debt-to-equity ratio of 4.19, a quick ratio of 1.05 and a current ratio of 1.43.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Monday, August 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. Allison Transmission’s dividend payout ratio (DPR) is presently 22.56%.
ALSN has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of Allison Transmission in a research note on Friday, June 29th. They issued a “buy” rating and a $50.00 price target on the stock. Credit Suisse Group dropped their price target on shares of Allison Transmission from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 2nd. Stifel Nicolaus increased their price target on shares of Allison Transmission from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Piper Jaffray Companies set a $26.00 price target on shares of Allison Transmission and gave the company a “sell” rating in a research note on Tuesday, July 31st. Finally, ValuEngine upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $45.75.
In other news, VP Eric C. Scroggins sold 4,940 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $47.34, for a total transaction of $233,859.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David S. Graziosi sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $48.52, for a total transaction of $242,600.00. Following the transaction, the chief executive officer now owns 196,921 shares in the company, valued at $9,554,606.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,880 shares of company stock worth $718,520. Insiders own 8.40% of the company’s stock.
About Allison Transmission
Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.
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