Algert Global LLC Decreases Stock Holdings in Alamo Group, Inc. $ALG

Key Points

• Algert Global LLC reduced its stake in Alamo Group by 5.4%, now holding 21,271 shares worth about $3.79 million at the end of the first quarter.
• Several institutional investors have significantly increased their holdings in Alamo Group, with Bank of America boosting its stake by 826.1% during the fourth quarter.
• Alamo Group reported quarterly earnings of $2.57 EPS, falling short of analysts' expectations of $2.69, despite revenues surpassing estimates at $419.07 million.

Algert Global LLC lowered its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,271 shares of the industrial products company's stock after selling 1,220 shares during the period. Algert Global LLC owned approximately 0.18% of Alamo Group worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Alamo Group by 16.7% during the 4th quarter. Wells Fargo & Company MN now owns 15,885 shares of the industrial products company's stock valued at $2,953,000 after purchasing an additional 2,275 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Alamo Group by 13.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 23,972 shares of the industrial products company's stock valued at $4,457,000 after purchasing an additional 2,915 shares during the period. Raymond James Financial Inc. purchased a new position in Alamo Group in the 4th quarter valued at approximately $200,000. Summit Investment Advisors Inc. grew its position in shares of Alamo Group by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 69 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Alamo Group by 1.8% in the fourth quarter. Barclays PLC now owns 22,826 shares of the industrial products company's stock worth $4,243,000 after buying an additional 409 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Up 4.3%

Shares of ALG stock traded up $9.14 during trading hours on Friday, hitting $221.83. 84,974 shares of the company's stock traded hands, compared to its average volume of 85,311. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The stock's fifty day simple moving average is $220.52 and its two-hundred day simple moving average is $197.24. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.16 and a beta of 1.10.

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

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. Alamo Group's dividend payout ratio (DPR) is 12.22%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALG shares. Wall Street Zen cut shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Sunday. Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, DA Davidson reiterated a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Alamo Group currently has an average rating of "Buy" and a consensus target price of $234.00.

Alamo Group 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.