Ieq Capital LLC Purchases New Position in Alamo Group, Inc. $ALG

Ieq Capital LLC bought a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,770 shares of the industrial products company’s stock, valued at approximately $494,000.

A number of other large investors also recently modified their holdings of ALG. Parallel Advisors LLC raised its stake 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 purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 65 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Alamo Group during the fourth quarter worth $79,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALG has been the topic of several research analyst reports. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a report on Sunday, August 24th. DA Davidson reiterated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th. Finally, Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $234.00.

Alamo Group Trading Up 1.2%

NYSE:ALG opened at $210.39 on Friday. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29. The business’s 50-day moving average price is $219.99 and its two-hundred day moving average price is $198.90. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.08 and a beta of 1.10.

Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The company had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. On average, equities analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is currently 12.22%.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

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.