Wedge Capital Management L L P NC Purchases New Shares in Allison Transmission Holdings Inc (NYSE:ALSN)

Wedge Capital Management L L P NC purchased a new stake in Allison Transmission Holdings Inc (NYSE:ALSN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 289,428 shares of the auto parts company’s stock, valued at approximately $13,415,000. Wedge Capital Management L L P NC owned 0.23% of Allison Transmission as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in ALSN. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Allison Transmission in the 2nd quarter valued at $46,000. FinTrust Capital Advisors LLC grew its stake in Allison Transmission by 73.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,132 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 481 shares during the period. Optimum Investment Advisors grew its stake in Allison Transmission by 1,001.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,101 shares of the auto parts company’s stock valued at $51,000 after acquiring an additional 1,001 shares during the period. First Interstate Bank grew its stake in Allison Transmission by 148.1% in the 1st quarter. First Interstate Bank now owns 1,449 shares of the auto parts company’s stock valued at $65,000 after acquiring an additional 865 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in Allison Transmission by 198.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,517 shares of the auto parts company’s stock valued at $66,000 after acquiring an additional 1,008 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

ALSN traded up $0.02 on Thursday, hitting $42.12. 25,655 shares of the company’s stock were exchanged, compared to its average volume of 933,874. Allison Transmission Holdings Inc has a fifty-two week low of $40.35 and a fifty-two week high of $53.76. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.10 and a current ratio of 1.51. The firm’s 50-day simple moving average is $45.59. The company has a market capitalization of $5.07 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.87 and a beta of 1.39.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. The firm had revenue of $737.00 million for the quarter, compared to analysts’ expectations of $688.08 million. Allison Transmission had a net margin of 24.06% and a return on equity of 96.05%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. As a group, equities research analysts forecast that Allison Transmission Holdings Inc will post 4.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.60 annualized dividend and a yield of 1.42%. Allison Transmission’s dividend payout ratio (DPR) is currently 12.55%.

Several brokerages have issued reports on ALSN. Morgan Stanley began coverage on shares of Allison Transmission in a research note on Wednesday, July 17th. They set an “equal weight” rating and a $50.00 target price on the stock. Zacks Investment Research cut shares of Allison Transmission from a “strong-buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $48.89.

In related news, SVP Randall R. Kirk sold 37,776 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $42.60, for a total value of $1,609,257.60. Following the sale, the senior vice president now directly owns 190,747 shares in the company, valued at approximately $8,125,822.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.00% of the stock is currently owned by insiders.

Allison Transmission Profile

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 12 transmission product lines 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.

Read More: Price to Earnings Ratio (PE) Basics

Want to see what other hedge funds are holding ALSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allison Transmission Holdings Inc (NYSE:ALSN).

Institutional Ownership by Quarter for Allison Transmission (NYSE:ALSN)

Receive News & Ratings for Allison Transmission Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allison Transmission and related companies with MarketBeat.com's FREE daily email newsletter.