Mutual of America Capital Management LLC Decreases Position in Allete, Inc. (NYSE:ALE)

Mutual of America Capital Management LLC lowered its stake in shares of Allete, Inc. (NYSE:ALE) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,799 shares of the utilities provider’s stock after selling 743 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Allete worth $1,958,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Lazard Asset Management LLC boosted its holdings in Allete by 13.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,371 shares of the utilities provider’s stock worth $88,000 after buying an additional 164 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Allete by 44.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 591 shares of the utilities provider’s stock worth $39,000 after buying an additional 182 shares during the period. State of Alaska Department of Revenue boosted its holdings in Allete by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 6,781 shares of the utilities provider’s stock worth $445,000 after buying an additional 185 shares during the period. State of Michigan Retirement System boosted its holdings in Allete by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 13,846 shares of the utilities provider’s stock worth $910,000 after buying an additional 200 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Allete by 78.0% in the 1st quarter. UMB Bank n.a. now owns 534 shares of the utilities provider’s stock worth $35,000 after buying an additional 234 shares during the period. Hedge funds and other institutional investors own 76.55% of the company’s stock.

Allete Stock Down 0.0%

Shares of NYSE:ALE opened at $65.64 on Friday. The firm has a fifty day moving average price of $64.98 and a two-hundred day moving average price of $65.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.26 and a quick ratio of 0.81. Allete, Inc. has a one year low of $63.00 and a one year high of $66.46. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 20.58 and a beta of 0.79.

Allete (NYSE:ALE) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. Allete had a net margin of 12.10% and a return on equity of 6.05%. The company had revenue of $400.20 million during the quarter, compared to the consensus estimate of $456.30 million. During the same period in the previous year, the firm posted $0.90 EPS. The firm’s revenue was down .8% compared to the same quarter last year.

Allete Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.73 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.45%. Allete’s dividend payout ratio is currently 91.54%.

About Allete

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.