Redmont Wealth Advisors LLC Boosts Stake in Alico, Inc. (NASDAQ:ALCO)

Redmont Wealth Advisors LLC raised its position in shares of Alico, Inc. (NASDAQ:ALCO) by 22.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,809 shares of the company’s stock after purchasing an additional 5,056 shares during the quarter. Alico comprises about 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Redmont Wealth Advisors LLC’s holdings in Alico were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Alico by 6.6% in the first quarter. Raymond James & Associates now owns 6,001 shares of the company’s stock valued at $225,000 after purchasing an additional 372 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Alico by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 78,775 shares of the company’s stock worth $2,959,000 after buying an additional 1,668 shares during the last quarter. Citigroup Inc. purchased a new stake in shares of Alico during the 1st quarter valued at about $518,000. BlackRock Inc. lifted its holdings in shares of Alico by 29.7% in the 1st quarter. BlackRock Inc. now owns 132,697 shares of the company’s stock valued at $4,985,000 after acquiring an additional 30,409 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Alico by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 352,845 shares of the company’s stock worth $13,252,000 after acquiring an additional 20,220 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Alico Trading Up 1.5 %

Shares of NASDAQ:ALCO traded up $0.39 during trading on Friday, hitting $27.25. The company had a trading volume of 6,665 shares, compared to its average volume of 24,911. The stock has a market cap of $207.67 million, a price-to-earnings ratio of 4.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.52 and a quick ratio of 1.05. The company has a fifty day simple moving average of $28.20 and a two-hundred day simple moving average of $27.74. Alico, Inc. has a one year low of $22.58 and a one year high of $31.00.

Alico (NASDAQ:ALCO) last released its earnings results on Wednesday, February 7th. The company reported ($2.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($2.06). The business had revenue of $13.99 million during the quarter, compared to analysts’ expectations of $11.50 million. Alico had a negative return on equity of 14.09% and a net margin of 110.84%. As a group, equities analysts forecast that Alico, Inc. will post -3.41 earnings per share for the current year.

Alico Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, March 27th. Alico’s dividend payout ratio (DPR) is 3.17%.

Alico Company 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.