Renaissance Technologies LLC Acquires 14,000 Shares of Alamo Group, Inc. $ALG

Renaissance Technologies LLC increased its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 583.3% during the first quarter, HoldingsChannel reports. The firm owned 16,400 shares of the industrial products company’s stock after buying an additional 14,000 shares during the period. Renaissance Technologies LLC’s holdings in Alamo Group were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Global Retirement Partners LLC lifted its stake in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 177 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 314 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Alamo Group in the fourth quarter worth approximately $76,000. State of Wyoming raised its holdings in shares of Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 205 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Alamo Group by 861.5% during the fourth quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 448 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ALG. Weiss Ratings cut shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. DA Davidson reiterated a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $188.00.

Alamo Group Stock Performance

ALG opened at $168.55 on Monday. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.01 and a beta of 1.10. The company’s 50 day moving average is $161.09 and its 200 day moving average is $172.16. Alamo Group, Inc. has a 12-month low of $145.76 and a 12-month high of $233.29.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The business had revenue of $450.73 million during the quarter, compared to analysts’ expectations of $437.48 million. On average, equities research analysts predict that Alamo Group, Inc. will post 10.48 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group’s payout ratio is presently 16.31%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.