Redmont Wealth Advisors LLC Has $809,000 Position in Alico, Inc. (NASDAQ:ALCO)

Redmont Wealth Advisors LLC lifted its stake in shares of Alico, Inc. (NASDAQ:ALCO) by 22.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,809 shares of the company’s stock after purchasing an additional 5,056 shares during the period. Alico accounts for 1.2% of Redmont Wealth Advisors LLC’s holdings, making the stock its 24th biggest position. Redmont Wealth Advisors LLC owned about 0.36% of Alico worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ALCO. Raymond James & Associates grew its holdings in Alico by 6.6% during the first quarter. Raymond James & Associates now owns 6,001 shares of the company’s stock worth $225,000 after purchasing an additional 372 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Alico by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 78,775 shares of the company’s stock worth $2,959,000 after acquiring an additional 1,668 shares during the last quarter. Citigroup Inc. bought a new stake in Alico in the 1st quarter valued at $518,000. BlackRock Inc. raised its stake in 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 period. Finally, Dimensional Fund Advisors LP lifted its holdings in Alico by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 352,845 shares of the company’s stock valued at $13,252,000 after purchasing an additional 20,220 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Alico Stock Performance

Shares of NASDAQ:ALCO traded up $0.39 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 stock has a 50 day moving average price of $28.20 and a 200 day moving average price of $27.74. Alico, Inc. has a 1-year low of $22.58 and a 1-year high of $31.00. The company has a current ratio of 2.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

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

Alico Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.20 annualized dividend and a yield of 0.73%. Alico’s payout ratio is currently 3.17%.

About Alico

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.