Royce & Associates LP Purchases New Stake in Alamo Group, Inc. (NYSE:ALG)

Key Points

• Royce & Associates LP acquired 2,350 shares of Alamo Group, valued at approximately $419,000, as reported in its recent SEC filing.
• Several institutional investors, including New York State Teachers Retirement System and Principal Financial Group Inc., have increased their holdings in Alamo Group during the first quarter.
• Alamo Group recently announced a $0.30 quarterly dividend, reflecting an annualized rate of $1.20 and a yield of 0.55%.

Royce & Associates LP acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,350 shares of the industrial products company's stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALG. Parallel Advisors LLC grew 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 acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 61 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Alamo Group in the fourth quarter valued at about $79,000. Finally, CWM LLC grew its stake in shares of Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 823 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total value of $100,920.00. Following the completion of the transaction, the executive vice president owned 12,948 shares of the company's stock, valued at approximately $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the transaction, the chief executive officer directly owned 40,913 shares of the company's stock, valued at $8,244,787.76. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Alamo Group Price Performance

ALG traded down $6.94 on Friday, hitting $215.64. 63,453 shares of the stock were exchanged, compared to its average volume of 113,730. Alamo Group, Inc. has a 12 month low of $157.07 and a 12 month high of $230.15. The business has a 50-day moving average of $214.81 and a two-hundred day moving average of $192.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.30 and a quick ratio of 2.62. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 22.46 and a beta of 1.08.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.32. The business had revenue of $390.95 million during the quarter, compared to analysts' expectations of $391.08 million. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. Sell-side analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a $0.30 dividend. 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 is 12.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. DA Davidson restated a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. Wall Street Zen cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Alamo Group 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.