Alamo Group, Inc. $ALG Position Boosted by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Alamo Group, Inc. by 596.2% during the 1st quarter, owning 3,648 shares valued at $650,000.
• Alamo Group reported earnings of $2.57 per share for the last quarter, falling short of analysts' expectations of $2.69, although the company exceeded revenue projections.
• The stock has received various ratings from analysts, with Robert W. Baird upgrading it from "neutral" to "outperform" and raising the target price to $260.00.

AlphaQuest LLC increased its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 596.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,648 shares of the industrial products company's stock after acquiring an additional 3,124 shares during the quarter. AlphaQuest LLC's holdings in Alamo Group were worth $650,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ALG. Ninepoint Partners LP acquired a new position in shares of Alamo Group in the first quarter worth about $40,988,000. Bank of America Corp DE raised its stake 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 valued at $24,260,000 after buying an additional 116,404 shares in the last quarter. SG Capital Management LLC acquired a new stake in Alamo Group during the fourth quarter valued at approximately $16,971,000. Ameriprise Financial Inc. raised its stake in Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock valued at $21,539,000 after buying an additional 89,430 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Alamo Group by 22.9% during the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock valued at $71,437,000 after buying an additional 74,679 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Insider Transactions at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the completion of the transaction, the chief executive officer directly owned 38,413 shares of the company's stock, valued at $8,534,984.47. This represents a 6.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

ALG has been the topic of several research reports. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, DA Davidson restated a "neutral" rating and set a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $234.00.

Alamo Group Stock Performance

Shares of NYSE:ALG traded down $3.94 during trading on Friday, hitting $211.07. 97,703 shares of the company traded hands, compared to its average volume of 84,169. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.10 and a beta of 1.10. The business's fifty day moving average is $220.54 and its 200-day moving average is $198.40. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $233.29. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

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

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend 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.