Wasatch Advisors LP Boosts Position in Alamo Group, Inc. $ALG

Wasatch Advisors LP raised its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 4.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 371,098 shares of the industrial products company’s stock after acquiring an additional 16,019 shares during the quarter. Wasatch Advisors LP’s holdings in Alamo Group were worth $61,220,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALG. Global Retirement Partners LLC increased its position in shares of Alamo Group by 136.2% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 177 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares in the last quarter. MAI Capital Management acquired a new position in shares of Alamo Group during the 3rd quarter valued at $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Alamo Group during the 2nd quarter valued at $87,000. Finally, Kestra Advisory Services LLC purchased a new stake in Alamo Group during the 4th quarter worth $76,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Trading Up 0.5%

ALG opened at $168.81 on Friday. The firm’s 50 day moving average is $158.85 and its 200-day moving average is $174.96. Alamo Group, Inc. has a 52-week low of $145.76 and a 52-week high of $233.29. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.05 billion, a P/E ratio of 20.19, a P/E/G ratio of 0.99 and a beta of 1.11.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.36. The business had revenue of $417.15 million during the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. Analysts expect that Alamo Group, Inc. will post 10.61 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s payout ratio is currently 16.27%.

Analyst Upgrades and Downgrades

ALG has been the subject of several recent research reports. William Blair initiated coverage on Alamo Group in a report on Monday, March 16th. They issued an “outperform” rating for the company. DA Davidson reduced their price objective on Alamo Group from $190.00 to $188.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.