LIVONIA, Mich.--(BUSINESS WIRE)--Alta Equipment Group Inc. (NYSE: ALTG), a leading provider of premium industrial and construction equipment and related services, today 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, effective after the US market opened yesterday, June 29.
"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."
Annual reconstitution of the Russell indexes captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the US 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.
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 US 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.
About Alta Equipment Group Inc.
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.