There has been some buying insider activity on Alico, Inc. (NASDAQ:alco) recently. Director Joseph Sambuco bought 2,404 shares at a price of $30.33 on June 8th. The Director now owns $72,913 of the stock per an SEC filing yesterday. George R. Brokaw, Director disclosed the purchase of 5,900 shares of ALCO stock. The shares sold for $27.42. The Director now owns $7,427,584 of the stock according to the SEC filing.
Remy W. Trafelet, Director acquired $161,778 worth of shares at a price of $27.42 on Mon the 28th. That brings Trafelet’s holdings to $7,427,584 as reported to the SEC.
Alico, Inc., launched on February 1, 1960, is an agribusiness and natural resources management company. The Business’s segments include Orange Co., Conservation and Environmental Resources and, Other Operations. Its principal lines of business are citrus groves, cattle ranching and conservation. The Orange Co. segment includes activities related to planting, owning, cultivating and/or managing citrus groves in order 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. The conservation and environmental resources segment includes activities related to cattle grazing, sod, native plant and animal sales, leasing, management and/or conservation of unimproved native pasture land. The other operations segment consists of activities related to rock mining royalties, oil exploration and other insignificant lines of business. Its cattle operation is involved in the production of beef cattle and is located in Hendry and Collier Counties. As of September 30, 2016, the Company owned approximately 122,000 acres of land located in 12 Florida countries, including approximately 90,000 acres of mineral rights..
These firms have also modified their investment in ALCO. As of the end of the quarter Morgan Stanley had acquired 100 shares growing its holdings by 50.0%. The value of the investment in (alco) increased from $5,000 to $8,000 a change of 60.0% quarter to quarter. As of quarter end Tower Research Capital LLC (trc) had sold a total of 6 shares trimming its stake by 15.0%. The value of the investment in Alico, Inc. went from $1,000 to $1,000 decreasing 0.0% for the reporting period.
As of the end of the quarter Rodgers Brothers Inc. had acquired 1,250 shares growing its position 2.4%. The value in dollars went from $1,396,000 to $1,390,000 a change of $6,000 since the last quarter. As of quarter end State Street Corp had bought 200 shares growing its holdings by 0.4%. The value of the investment in ALCO went from $1,379,000 to $1,346,000 a change of $33,000 quarter over quarter.
In the market the company is trading up from yesterday’s close of $30.6. Additionally Alico, Inc. declared a dividend for shareholders to be paid on Saturday the 15th of July 2017. The dividend will be $0.060 per share for the quarter or $0.24 annualized. This dividend amount will represent a yeild of $0.79. The ex-dividend date has been established as Wednesday the 29th of March 2017.
The stock last traded at $31.55 a bit higher than $30.33, the 50 day moving average and which is marginally over the 200 day moving average of $27.79. The 50 day moving average was up by +4.01% and the 200 day average moved up $3.76.
The company’s P/E ratio is 49.30 and the market cap of the company is 261.52M. Investors are a little more bearish on Alico, Inc. of late if you take a look at the increase in short interest. The company recorded a rise in short interest of 10.16% as of April 28, 2017 from the last reporting period. Short interest grew 10,448 over that period. With short interest at 113,332 and short average daily volume at 8,408, the short-interest ratio is 13.5 and the percentage of shorted shares is 0.01% as of April 28.