Alamo Group, Inc. $ALG Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its stake in Alamo Group by 9.4% to 666,327 shares (about 5.50% ownership) worth $113,562,000, and overall hedge funds/institutions own roughly 92.36% of the stock.
• Alamo Group missed quarterly estimates with EPS of $1.70 versus $2.06 expected and revenue of $373.65M versus $405.18M, but analysts remain mixed and the consensus rating is Moderate Buy with a $225 price target.
• Insider activity included CEO Robert Paul Hureau buying 460 shares at about $164.40 (a 3.82% increase in his position) while Director Nina C. Grooms sold 499 shares (a 14.93% decrease); corporate insiders hold 1.06% of the stock.

Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 666,327 shares of the industrial products company's stock after buying an additional 57,456 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.50% of Alamo Group worth $113,562,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALG. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Alamo Group in the 4th quarter valued at about $39,213,000. Wedge Capital Management L L P NC boosted its holdings in Alamo Group by 11.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 18,048 shares of the industrial products company's stock valued at $3,030,000 after purchasing an additional 1,872 shares in the last quarter. SG Americas Securities LLC increased its stake in Alamo Group by 18.9% in the fourth quarter. SG Americas Securities LLC now owns 4,754 shares of the industrial products company's stock valued at $798,000 after purchasing an additional 756 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Alamo Group by 359.7% in the third quarter. Tudor Investment Corp ET AL now owns 6,188 shares of the industrial products company's stock valued at $1,181,000 after purchasing an additional 4,842 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Alamo Group during the third quarter worth approximately $211,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Robert Paul Hureau acquired 460 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $164.40 per share, for a total transaction of $75,624.00. Following the transaction, the chief executive officer directly owned 12,506 shares in the company, valued at approximately $2,055,986.40. This represents a 3.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nina C. Grooms sold 499 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the transaction, the director directly owned 2,844 shares in the company, valued at $498,240.36. This represents a 14.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALG shares. Weiss Ratings restated a "hold (c)" rating on shares of Alamo Group in a research report on Friday. DA Davidson reiterated a "neutral" rating and set a $190.00 price target on shares of Alamo Group in a research note on Monday, March 9th. Zacks Research cut shares of Alamo Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. William Blair initiated coverage on shares of Alamo Group in a research note on Monday, March 16th. They issued an "outperform" rating for the company. Finally, CJS Securities raised Alamo Group to a "strong-buy" rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.00.

Alamo Group Trading Up 0.3%

NYSE ALG opened at $164.78 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.82 and a current ratio of 4.57. The firm has a market cap of $2.00 billion, a PE ratio of 19.18, a P/E/G ratio of 0.99 and a beta of 1.10. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29. The firm's fifty day moving average is $189.77 and its two-hundred day moving average is $182.60.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.36). The business had revenue of $373.65 million for the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. Analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 16th were paid a $0.34 dividend. This is an increase from Alamo Group's previous quarterly dividend of $0.30. The ex-dividend date was Friday, January 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group's dividend payout ratio (DPR) is 15.83%.

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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