Pacer Advisors Inc. Makes New $12.92 Million Investment in Alamo Group, Inc. (NYSE:ALG)

Key Points

• Pacer Advisors Inc. acquired 72,496 shares of Alamo Group, Inc., valued at approximately $12.9 million, marking a 0.60% ownership stake.
• CEO Jeffery Allen Leonard sold 3,500 shares at an average price of $201.52, reducing his ownership by 7.88% to approximately 40,913 shares.
• Alamo Group announced a quarterly dividend of $0.30, set to be paid on July 29, contributing to an annualized yield of 0.55%.

Pacer Advisors Inc. purchased a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 72,496 shares of the industrial products company's stock, valued at approximately $12,920,000. Pacer Advisors Inc. owned about 0.60% of Alamo Group at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after acquiring an additional 72 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Alamo Group by 110.6% during the 1st 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 during the period. Nisa Investment Advisors LLC boosted its holdings in Alamo Group by 30.0% during the 1st 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 during the period. Lazard Asset Management LLC purchased a new position in Alamo Group during the 4th quarter valued at $79,000. Finally, CWM LLC boosted its holdings in Alamo Group by 520.9% during the 1st quarter. CWM LLC now owns 981 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 823 shares during the period. Institutional investors own 92.36% of the company's stock.

Alamo Group Trading Up 0.2%

Shares of NYSE:ALG traded up $0.51 during trading on Wednesday, reaching $217.35. 14,159 shares of the company were exchanged, compared to its average volume of 113,544. The firm has a market capitalization of $2.63 billion, a PE ratio of 22.64 and a beta of 1.08. The business's fifty day simple moving average is $213.98 and its 200-day simple moving average is $192.42. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $230.15. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.30 and a quick ratio of 2.62.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.32. The company had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. On average, research analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is 12.50%.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president directly owned 12,948 shares of the company's stock, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction on 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 in the company, valued at $8,244,787.76. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a report on Saturday. DA Davidson reaffirmed a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a research report on Tuesday, July 22nd.

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.