Legato Capital Management LLC Buys 2,314 Shares of Alamo Group, Inc. (NYSE:ALG)

Legato Capital Management LLC grew its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 23.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,223 shares of the industrial products company's stock after buying an additional 2,314 shares during the period. Legato Capital Management LLC owned 0.10% of Alamo Group worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ALG. Bank of America Corp DE boosted its holdings in Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock worth $24,260,000 after buying an additional 116,404 shares in the last quarter. SG Capital Management LLC purchased a new stake in Alamo Group in the 4th quarter worth approximately $16,971,000. Ameriprise Financial Inc. lifted its position in Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after buying an additional 89,430 shares in the last quarter. Victory Capital Management Inc. lifted its position in Alamo Group by 12.9% in the 1st quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock worth $90,320,000 after buying an additional 58,097 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Alamo Group by 37,434.5% in the 1st quarter. GAMMA Investing LLC now owns 42,414 shares of the industrial products company's stock valued at $7,559,000 after purchasing an additional 42,301 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Price Performance

NYSE:ALG traded up $1.80 on Friday, reaching $219.08. The stock had a trading volume of 45,490 shares, compared to its average volume of 114,678. The company has a market capitalization of $2.65 billion, a P/E ratio of 22.82 and a beta of 1.08. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $230.15. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $213.11 and a 200-day moving average price of $191.42.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. The firm 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%. Research analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group's payout ratio is 12.50%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

ALG has been the subject of several analyst reports. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. DA Davidson restated a "neutral" rating and set a $225.00 price objective on shares of Alamo Group in a report on Tuesday.

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.