Los Angeles Capital Management LLC Acquires New Stake in Alamo Group, Inc. $ALG

Los Angeles Capital Management LLC bought a new position in Alamo Group, Inc. (NYSE:ALG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,618 shares of the industrial products company’s stock, valued at approximately $353,000.

Several other hedge funds have also recently made changes to their positions in ALG. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 61 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 65 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the period. CWM LLC increased its stake in shares of Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 823 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Alamo Group in the second quarter valued at approximately $202,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Down 2.2%

ALG opened at $162.05 on Friday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.13. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $233.29. The company has a fifty day moving average price of $187.16 and a 200-day moving average price of $202.78. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The business had revenue of $420.04 million during the quarter, compared to analysts’ expectations of $407.55 million. Equities research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. Alamo Group’s payout ratio is presently 12.45%.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the sale, the chief executive officer directly owned 38,413 shares of the company’s stock, valued at $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

ALG has been the subject of several analyst reports. DA Davidson cut their price objective on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Alamo Group in a research report on Thursday. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alamo Group currently has a consensus rating of “Hold” and an average target price of $222.33.

About Alamo Group

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.