Alamo Group, Inc. $ALG Stock Holdings Boosted by ProShare Advisors LLC

ProShare Advisors LLC boosted its stake in Alamo Group, Inc. (NYSE:ALG) by 37.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,541 shares of the industrial products company’s stock after buying an additional 16,857 shares during the quarter. ProShare Advisors LLC owned approximately 0.51% of Alamo Group worth $9,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Alamo Group during the second quarter worth about $288,972,000. Jupiter Topco LLC purchased a new position in Alamo Group during the 2nd quarter valued at about $28,617,000. Copeland Capital Management LLC grew its stake in shares of Alamo Group by 189.3% in the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock worth $29,936,000 after acquiring an additional 118,737 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Alamo Group during the second quarter worth about $17,437,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new position in shares of Alamo Group during the second quarter worth $13,404,290. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 2,537 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $174.68, for a total value of $443,163.16. Following the completion of the sale, the executive vice president owned 5,605 shares in the company, valued at $979,081.40. This trade represents a 31.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Alamo Group Price Performance

Alamo Group stock opened at $149.07 on Wednesday. The stock has a market capitalization of $1.81 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48. Alamo Group, Inc. has a 12 month low of $133.32 and a 12 month high of $219.88. The business has a 50 day simple moving average of $159.02 and a 200-day simple moving average of $168.66.

Alamo Group (NYSE:ALG) last released its earnings results on Monday, November 2nd. The industrial products company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.56). The firm had revenue of $403.14 million during the quarter, compared to analyst estimates of $437.11 million. Alamo Group had a return on equity of 9.47% and a net margin of 4.72%. Equities analysts predict that Alamo Group, Inc. will post 10.52 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Thursday, October 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is 21.22%.

Trending Headlines about Alamo Group

Here are the key news stories impacting Alamo Group this week:

• Positive Sentiment: One valuation analysis argues ALG could be about 35% undervalued, citing the company’s U.K. roadway-work opportunity. This is an analyst view, not a company forecast. Alamo Group stock could be 35% undervalued
• Neutral Sentiment: Alamo acquired U.K. roadway-maintenance truck maker Econ Engineering for £120 million (about $158.7 million), adding to its industrial portfolio. The company outlined a net-leverage target of up to 2.5x following the acquisition; the deal offers growth potential but increases the importance of debt management. Alamo Group third-quarter results and acquisition Alamo outlines leverage target after Econ acquisition
• Negative Sentiment: Third-quarter adjusted EPS was $2.06, below analyst estimates of roughly $2.62–$2.65 and down from $2.34 a year earlier. Revenue of $403.1 million also missed expectations of about $437.1 million. Coverage pointed to soft end markets and restructuring as pressures on results, keeping earnings execution in focus. Alamo Group Q3 earnings and revenue miss estimates Q3 deep dive on end markets and restructuring

About Alamo Group

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.