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Alta Equipment Group Inc - ALTG STOCK NEWS

Welcome to our dedicated news page for Alta Equipment Group (Ticker: ALTG), a resource for investors and traders seeking the latest updates and insights on Alta Equipment Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Alta Equipment Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Alta Equipment Group's position in the market.

News
Alta Equipment Group Announces Common Stock Dividend
Rhea-AI Summary
Alta Equipment Group Inc. (NYSE: ALTG) has announced a quarterly dividend of $0.057 per share on its common stock. The dividend payment date is November 30, 2023, and the record date is November 15, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.02%
Tags
dividends
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News
Alta Equipment Group Acquires Ault Industries Expanding Construction Equipment Segment to Canada
Rhea-AI Summary
Alta Equipment Group Inc. has acquired Ault Industries Inc., a Canadian equipment distributor, expanding its product portfolio and entering the aggregate and mining industries in Ontario and Quebec. The acquisition includes an exclusive distributorship with McCloskey, a leading OEM in the crushing and screening category. Ault generated $50.3 million in revenue, $4.5 million in net income, and $7.5 million in adjusted EBITDA for the trailing twelve months through June 30, 2023. The total purchase price is $36.0 million, consisting of cash, a seller note, and Alta's common stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.57%
Tags
acquisition
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News
Alta Equipment Group Announces Date of Third Quarter 2023 Financial Results Release, Conference Call and Webcast
Rhea-AI Summary
Alta Equipment Group Inc. will report its financial results for Q3 2023 on November 8, 2023. A conference call and webcast will be held to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.21%
Tags
earnings
News
Alta Equipment Group Announces Preferred Stock Dividend
Rhea-AI Summary
Alta Equipment Group approves quarterly dividend on Series A Preferred Stock, amounting to $625 per preferred share. Dividend payment date is October 31, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.31%
Tags
dividends
-
News
Alta Equipment Group to Acquire Burris Equipment Adding to Its Construction Business Segment
Rhea-AI Summary
Alta Equipment Group Inc. expands product portfolio and presence in Illinois market through acquisition of Burris Equipment Company. The $14.0 million cash deal is expected to be immediately accretive to the Company's leverage, profitability, and earnings per share ratios. Burris generated $40.6 million in revenue, $1.9 million in net income, and $4.6 million in EBITDA on a trailing twelve-month basis. The acquisition diversifies Alta's product portfolio, expands infrastructure with three new branches, and strengthens product support and rental capabilities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.89%
Tags
acquisition
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News
Alta Equipment Group Announces Second Quarter 2023 Financial Results
Rhea-AI Summary
Alta Equipment Group Inc. reported second-quarter financial results, with total revenues increasing by 15.2% year over year to $468.4 million. The company saw growth across its Construction and Material Handling segments, as well as in its newly introduced Master Distribution segment. Net income available to common stockholders was $1.7 million, compared to $5.4 million in the previous year. Adjusted EBITDA grew by 20.5% to $49.9 million, and the company reaffirmed its 2023 Adjusted EBITDA guidance of between $180 million and $188 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.41%
Tags
earnings
News
Alta Equipment Group Inc. Announces Full Exercise of Option in Secondary Offering of Common Stock
Rhea-AI Summary
Alta Equipment Group Inc. (NYSE: ALTG) has announced that the underwriters of its secondary public offering have exercised their option to purchase an additional 330,000 shares of common stock at $16.25 per share. This brings the total number of shares sold in the offering to 2,530,000, generating approximately $41.1 million in gross proceeds for the selling stockholder.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
offering
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News
Alta Equipment Group Announces Common Stock Dividend
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.42%
Tags
dividends
-
News
Alta Equipment Group Announces Date of Second Quarter 2023 Financial Results Release, Conference Call and Webcast
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.31%
Tags
earnings
News
Alta Equipment Group Inc. Announces Closing of Secondary Offering of Common Stock
Rhea-AI Summary
Alta Equipment Group Inc. has closed its secondary offering of 2,200,000 shares of common stock at $16.25 per share, resulting in gross proceeds of approximately $35.8 million. D.A. Davidson & Co. and B. Riley Securities acted as joint bookrunning managers for the offering.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
offering
Stock ALTG logo
Alta Equipment Group Inc

NYSE:ALTG

ALTG Rankings

#3204 Ranked by Market Cap
#3610 Ranked by Stock Gains
#1435 Ranked by Dividends

ALTG Stock Data

385.46M
19.59M
21.81%
67.43%
5.31%
Industrial Machinery and Equipment Merchant Wholesalers
Wholesale Trade
Link
United States
Livonia

About ALTG

alta equipment company is a leading provider of industrial forklifts, heavy construction equipment and warehouse solutions in the midwest. our core commitment is to provide outstanding service that exceeds our customers' expectations. by investing in our people, products and facilities, we ensure our customers excellent value and consistent service. alta equipment company's wide variety of products includes forklifts, wheel loaders, excavators, pavers, and materials handling products such as pallet racking, ergonomic equipment and modular building systems. our core brands include hyster lift trucks, yale lift trucks, volvo construction equipment, combilift fork lifts, link-belt cranes, gomaco concrete pavers. to further support our customers' needs, we offer a rental fleet of more than 1,250 units, a large inventory of used equipment, flexible options for fleet maintenance, training courses for operators and technicians, and a variety of financing options .