Alta Equipment Group Joins Russell 2000, Russell 3000, and Russell Microcap Indexes
Alta Equipment Group Inc., a leading provider of premium industrial and construction equipment and related services, announced that as part of the annual reconstitution of the Russell stock indexes, Alta has joined the Russell 2000 Index, the broad-market Russell 3000 Index, and the Russell Microcap Index.
Annual reconstitution of the Russell indexes captures the 4,000 largest U.S. stocks as of May 8, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"Being added to the Russell 2000, the Russell 3000, and Russell Microcap Indexes is a significant milestone for our company," said Ryan Greenawalt, CEO of Alta Equipment Group. "We believe our inclusion will increase Alta’s exposure with a more diverse group of institutional investors and help to drive interest in the company within the broader investment community."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000 Index and the Russell US Indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
Alta owns and operates one of the largest integrated equipment dealership platforms in the U.S. Through its branch network, the company sells, rents, and provides parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other industrial and construction equipment. Alta has operated as an equipment dealership for 35 years and has developed a branch network that includes 43 total locations across Michigan, Illinois, Indiana, New England, New York and Florida. Alta offers its customers a one-stop-shop for most of their equipment needs by providing sales, parts, service, and rental functions under one roof. Alta trades on the New York Stock Exchange under the ticker “ALTG” and is a member of the Russell 2000®, the Russell 3000®, and Russell Microcap® Indexes. More information can be found at www.altaequipment.com.
Headquartered in Livonia, Mich., Alta Equipment Co. is No. 39 on the RER 100.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.