Mackay Shields LLC Reduces Stake in Allison Transmission Holdings Inc (ALSN)

Mackay Shields LLC lessened its holdings in shares of Allison Transmission Holdings Inc (NYSE:ALSN) by 8.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 269,723 shares of the auto parts company’s stock after selling 23,678 shares during the period. Mackay Shields LLC owned 0.21% of Allison Transmission worth $10,921,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Townsend & Associates Inc bought a new stake in shares of Allison Transmission during the 2nd quarter valued at $111,000. Smithfield Trust Co. bought a new stake in shares of Allison Transmission during the 1st quarter valued at $189,000. Sigma Planning Corp bought a new stake in shares of Allison Transmission during the 2nd quarter valued at $232,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Allison Transmission during the 1st quarter valued at $238,000. Finally, Murphy Capital Management Inc. bought a new stake in shares of Allison Transmission during the 2nd quarter valued at $249,000.

In other Allison Transmission news, VP Eric C. Scroggins sold 4,940 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $47.34, for a total value of $233,859.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.40% of the company’s stock.



Shares of Allison Transmission stock opened at $46.18 on Wednesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 17.36, a PEG ratio of 1.03 and a beta of 1.30. Allison Transmission Holdings Inc has a 1 year low of $32.93 and a 1 year high of $48.19. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 4.19.

Allison Transmission (NYSE:ALSN) last announced its quarterly earnings results on Monday, July 30th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.29. The company had revenue of $711.00 million for the quarter, compared to analysts’ expectations of $655.33 million. Allison Transmission had a net margin of 25.46% and a return on equity of 86.52%. Allison Transmission’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. analysts expect that Allison Transmission Holdings Inc will post 4.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Monday, August 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, August 17th. Allison Transmission’s payout ratio is 22.56%.

A number of brokerages have recently commented on ALSN. Zacks Investment Research upgraded shares of Allison Transmission from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, August 1st. Bank of America boosted their target price on shares of Allison Transmission from $42.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, May 1st. Stifel Nicolaus boosted their target price on shares of Allison Transmission from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. ValuEngine cut shares of Allison Transmission from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Finally, Piper Jaffray Companies set a $26.00 target price on shares of Allison Transmission and gave the company a “sell” rating in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Allison Transmission presently has an average rating of “Hold” and a consensus target price of $45.75.

Allison Transmission Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles worldwide. It offers 13 transmission product lines with approximately 100 product models for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles.

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Institutional Ownership by Quarter for Allison Transmission (NYSE:ALSN)

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