Third Avenue Management LLC Has $4.55 Million Stock Position in Alamo Group, Inc. $ALG

Third Avenue Management LLC lowered its stake in Alamo Group, Inc. (NYSE:ALG) by 19.9% during the first quarter, Holdings Channel.com reports. The fund owned 25,546 shares of the industrial products company’s stock after selling 6,334 shares during the period. Third Avenue Management LLC’s holdings in Alamo Group were worth $4,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALG. Parallel Advisors LLC increased its position in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. GAMMA Investing LLC increased its position in Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock worth $42,000 after buying an additional 125 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after buying an additional 61 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Alamo Group during the fourth quarter worth approximately $79,000. Finally, CWM LLC increased its position in Alamo Group by 520.9% during the first quarter. CWM LLC now owns 981 shares of the industrial products company’s stock worth $175,000 after buying an additional 823 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $209.00 to $260.00 in a research report on Monday, August 4th. DA Davidson reissued a “neutral” rating and set a $225.00 price target on shares of Alamo Group in a research report on Tuesday, July 22nd. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised Alamo Group from a “hold” rating to a “buy” rating in a research report on Saturday.

Alamo Group Trading Up 1.1%

Shares of NYSE:ALG opened at $224.76 on Tuesday. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The stock has a market cap of $2.72 billion, a PE ratio of 22.89, a P/E/G ratio of 1.16 and a beta of 1.10. The business has a 50 day moving average of $220.16 and a 200-day moving average of $196.35. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. The firm had revenue of $419.07 million for the quarter, compared to the consensus estimate of $406.75 million. As a group, equities research analysts forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group’s payout ratio is currently 12.22%.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.