ALLETE Inc (ALE) is Mesirow Financial Investment Management Equity Management’s 4th Largest Position

Mesirow Financial Investment Management Equity Management lowered its stake in shares of ALLETE Inc (NYSE:ALE) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,592 shares of the utilities provider’s stock after selling 25,669 shares during the quarter. ALLETE makes up about 1.6% of Mesirow Financial Investment Management Equity Management’s holdings, making the stock its 4th biggest position. Mesirow Financial Investment Management Equity Management owned 0.58% of ALLETE worth $22,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of ALLETE by 4.0% during the second quarter. Amalgamated Bank now owns 6,573 shares of the utilities provider’s stock worth $471,000 after acquiring an additional 255 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of ALLETE by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 8,308 shares of the utilities provider’s stock worth $596,000 after acquiring an additional 109 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of ALLETE by 7.9% during the second quarter. New York State Common Retirement Fund now owns 99,723 shares of the utilities provider’s stock worth $7,148,000 after acquiring an additional 7,311 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of ALLETE by 6.7% during the second quarter. UBS Asset Management Americas Inc. now owns 38,188 shares of the utilities provider’s stock worth $2,737,000 after acquiring an additional 2,393 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of ALLETE by 15.3% during the second quarter. GSA Capital Partners LLP now owns 3,482 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 462 shares during the last quarter. 72.95% of the stock is currently owned by institutional investors.

ALLETE Inc (NYSE:ALE) traded down $0.37 during trading hours on Wednesday, reaching $68.52. 216,830 shares of the company were exchanged, compared to its average volume of 308,612. ALLETE Inc has a 1 year low of $64.56 and a 1 year high of $81.24. The company has a current ratio of 1.34, a quick ratio of 0.98 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3,557.98, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.33.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.27%. This is a positive change from ALLETE’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, February 14th. ALLETE’s dividend payout ratio (DPR) is 61.85%.

ALE has been the topic of a number of research reports. Williams Capital upgraded shares of ALLETE from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Friday, February 2nd. Wells Fargo & Co set a $71.00 target price on shares of ALLETE and gave the stock a “hold” rating in a research report on Tuesday. Ladenburg Thalmann Financial Services lowered shares of ALLETE from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Friday, October 20th. JPMorgan Chase & Co. raised their target price on shares of ALLETE from $73.00 to $76.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research lowered shares of ALLETE from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $77.20.

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About ALLETE

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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