87,542 Shares in Alamo Group, Inc. $ALG Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. acquired 87,542 shares of Alamo Group, Inc. for approximately $19.12 million, representing about 0.72% ownership of the company.
• CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock, decreasing his holdings by 6.11%, following the sale.
• Alamo Group's recent earnings report indicated a miss in earnings per share (EPS) at $2.57 compared to the expected $2.69, but revenue exceeded estimates at $419.07 million.

Assenagon Asset Management S.A. purchased a new position in Alamo Group, Inc. (NYSE:ALG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 87,542 shares of the industrial products company's stock, valued at approximately $19,117,000. Assenagon Asset Management S.A. owned approximately 0.72% of Alamo Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ALG. Parallel Advisors LLC grew its stake in Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC grew its stake in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Alamo Group by 31.6% in 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 in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Alamo Group by 3,140.0% in the first 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 in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALG. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. DA Davidson restated a "neutral" rating and issued a $225.00 target price on shares of Alamo Group in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Alamo Group has an average rating of "Buy" and an average target price of $234.00.

Alamo Group Stock Performance

ALG opened at $198.29 on Tuesday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29. The business has a 50 day moving average price of $215.53 and a two-hundred day moving average price of $200.97.

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

Alamo Group Dividend Announcement

The business also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio is 12.22%.

About Alamo Group

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.

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