Mutual of America Capital Management LLC Sells 50,880 Shares of ALLETE, Inc. (NYSE:ALE)

Mutual of America Capital Management LLC lessened its holdings in shares of ALLETE, Inc. (NYSE:ALE - Free Report) by 62.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,542 shares of the utilities provider's stock after selling 50,880 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of ALLETE worth $1,979,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of ALLETE during the third quarter valued at approximately $38,000. Fifth Third Bancorp grew its stake in ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider's stock valued at $57,000 after purchasing an additional 217 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in shares of ALLETE by 31.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider's stock valued at $100,000 after purchasing an additional 370 shares during the last quarter. KBC Group NV raised its stake in shares of ALLETE by 61.7% during the 4th quarter. KBC Group NV now owns 2,431 shares of the utilities provider's stock worth $158,000 after purchasing an additional 928 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of ALLETE by 14.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,135 shares of the utilities provider's stock worth $201,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 76.55% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of ALLETE in a research note on Friday, January 10th. They set a "hold" rating for the company.

ALLETE Stock Performance

Shares of NYSE:ALE traded up $0.08 during midday trading on Monday, reaching $65.35. 13,830 shares of the company traded hands, compared to its average volume of 346,917. ALLETE, Inc. has a 12 month low of $56.66 and a 12 month high of $65.99. The firm's fifty day moving average price is $65.44 and its two-hundred day moving average price is $64.68. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.08 and a beta of 0.74.

ALLETE (NYSE:ALE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.47%. This is a boost from ALLETE's previous quarterly dividend of $0.71. ALLETE's dividend payout ratio is presently 94.19%.

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.