Freestone Grove Partners LP bought a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,627 shares of the industrial products company's stock, valued at approximately $1,419,000. Freestone Grove Partners LP owned approximately 0.07% of Alamo Group as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Man Group plc bought a new position in Alamo Group in the 2nd quarter worth about $2,299,000. Jupiter Topco LLC bought a new stake in shares of Alamo Group during the 2nd quarter valued at about $28,617,000. Hsbc Holdings PLC bought a new stake in shares of Alamo Group during the 2nd quarter valued at about $337,000. Legal & General Group Plc purchased a new position in shares of Alamo Group during the second quarter worth about $4,134,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Alamo Group during the second quarter worth about $935,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the transaction, the executive vice president directly owned 8,142 shares in the company, valued at $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.06% of the stock is owned by insiders.
Alamo Group Trading Up 0.6%
Shares of ALG stock opened at $165.09 on Friday. The business has a 50-day moving average price of $164.36 and a two-hundred day moving average price of $169.07. Alamo Group, Inc. has a 12-month low of $145.76 and a 12-month high of $219.88. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.01 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 0.98 and a beta of 1.10.
Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.74 by $0.08. The firm had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. Equities analysts anticipate that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.
Alamo Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group's dividend payout ratio is currently 16.31%.
Wall Street Analysts Forecast Growth
ALG has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $188.00 target price on shares of Alamo Group in a research note on Wednesday, July 1st. Zacks Research raised shares of Alamo Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Alamo Group in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Alamo Group has a consensus rating of "Moderate Buy" and a consensus target price of $188.00.
View Our Latest Stock Analysis on Alamo Group
About Alamo Group
(
Free Report)
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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