1,756,777 Shares in Alamo Group, Inc. $ALG Bought by BlackRock Inc.

Key Points

• BlackRock acquired 1,756,777 Alamo Group shares worth approximately $289 million, giving it a 14.43% stake. Institutional investors collectively own 92.36% of the company.
• Alamo Group exceeded quarterly expectations, reporting EPS of $2.82 versus the $2.74 consensus and revenue of $450.73 million versus estimates of $437.48 million.
• The company maintains a quarterly dividend of $0.34, or $1.36 annually, yielding about 0.8%. Analysts have a “Moderate Buy” consensus rating and an average price target of $188, above the reported $164.32 share price.

BlackRock Inc. bought a new stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,756,777 shares of the industrial products company's stock, valued at approximately $288,972,000. BlackRock Inc. owned approximately 14.43% of Alamo Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new position in shares of Alamo Group during the 2nd quarter valued at about $35,000. Jones Financial Companies Lllp lifted its holdings in Alamo Group by 3,140.0% in the 1st 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 last quarter. Kestra Advisory Services LLC bought a new stake in Alamo Group during the fourth quarter worth approximately $76,000. State of Wyoming boosted its position in Alamo Group by 76.5% during the fourth quarter. State of Wyoming now owns 473 shares of the industrial products company's stock worth $79,000 after purchasing an additional 205 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in 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. Institutional investors and hedge funds own 92.36% of the company's stock.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the sale, the executive vice president owned 8,142 shares of the company's stock, valued at $1,338,626.22. The trade was a 25.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.06% of the stock is owned by corporate insiders.

Alamo Group Stock Performance

NYSE:ALG opened at $164.32 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. The firm's 50-day moving average is $164.23 and its 200-day moving average is $169.41. Alamo Group, Inc. has a 52-week low of $145.76 and a 52-week high of $219.88. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.96 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%.The firm had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. Equities research analysts anticipate that Alamo Group, Inc. will post 10.56 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group's dividend payout ratio (DPR) is 16.31%.

Wall Street Analysts Forecast Growth

ALG has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Alamo Group in a research note on Friday, August 21st. Zacks Research upgraded shares of Alamo Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $188.00 price target on shares of Alamo Group in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $188.00.

Alamo Group Profile

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.

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