The Manufacturers Life Insurance Company Takes Position in Alliance Laundry Holdings Inc. $ALH

The Manufacturers Life Insurance Company acquired a new position in shares of Alliance Laundry Holdings Inc. (NYSE:ALH) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 57,851 shares of the company’s stock, valued at approximately $1,534,000.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Alliance Laundry by 1,683.8% during the first quarter. California State Teachers Retirement System now owns 48,001 shares of the company’s stock worth $996,000 after purchasing an additional 45,310 shares during the last quarter. Element Capital Management LLC purchased a new position in Alliance Laundry during the fourth quarter worth approximately $2,544,000. Deutsche Bank AG acquired a new position in shares of Alliance Laundry in the 2nd quarter valued at $1,187,000. Norges Bank purchased a new stake in shares of Alliance Laundry during the 4th quarter valued at $55,962,000. Finally, Swiss National Bank purchased a new stake in shares of Alliance Laundry during the 1st quarter valued at $2,024,000.

Alliance Laundry Stock Performance

Shares of ALH stock opened at $22.66 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.14 and a debt-to-equity ratio of 3.35. The company has a market cap of $4.50 billion and a PE ratio of 24.90. The company’s fifty day simple moving average is $25.32 and its 200-day simple moving average is $24.23. Alliance Laundry Holdings Inc. has a 52 week low of $18.64 and a 52 week high of $28.23.

Alliance Laundry (NYSE:ALH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. The firm had revenue of $476.75 million during the quarter. As a group, equities research analysts anticipate that Alliance Laundry Holdings Inc. will post 1.34 EPS for the current year.

Insider Buying and Selling

In other Alliance Laundry news, insider Amanda Kopetsky sold 13,472 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $27.00, for a total transaction of $363,744.00. Following the transaction, the insider owned 7,331 shares in the company, valued at $197,937. The trade was a 64.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Gommaar Vleugels sold 75,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $24.75, for a total value of $1,856,250.00. Following the completion of the sale, the chief operating officer directly owned 449,563 shares of the company’s stock, valued at $11,126,684.25. The trade was a 14.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 212,528 shares of company stock worth $5,439,521. Company insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALH. Citigroup increased their target price on Alliance Laundry from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Zacks Research lowered Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Morgan Stanley raised their price objective on Alliance Laundry from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alliance Laundry in a research note on Friday, August 7th. Finally, BMO Capital Markets boosted their target price on Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.20.

About Alliance Laundry

Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.