American Century Companies Inc. Buys 37,051 Shares of Alamo Group, Inc. $ALG

Key Points

• American Century Companies Inc. increased its stake in Alamo Group, Inc. by 266.2% in Q1, owning 50,969 shares valued at $9.08 million as of its latest SEC filing.
• Several hedge funds adjusted their positions, with notable increases including Nisa Investment Advisors LLC up by 30% and GAMMA Investing LLC up by 110.6% during the same quarter.
• Alamo Group's recent earnings report showed EPS of $2.57, missing estimates, but revenue was higher than expected at $419.07 million.

American Century Companies Inc. boosted its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 266.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,969 shares of the industrial products company's stock after purchasing an additional 37,051 shares during the quarter. American Century Companies Inc. owned about 0.42% of Alamo Group worth $9,083,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 61 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares during the period. New York State Teachers Retirement System raised its stake in shares of Alamo Group by 4.1% during the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after purchasing an additional 100 shares during the period. Heritage Family Offices LLP raised its stake in shares of Alamo Group by 8.3% during the 1st quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock worth $242,000 after purchasing an additional 104 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Price Performance

ALG traded down $3.94 during midday trading on Monday, hitting $211.07. The stock had a trading volume of 97,703 shares, compared to its average volume of 84,169. The company has a market cap of $2.56 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The business has a fifty day moving average of $220.52 and a 200 day moving average of $198.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. Alamo Group, Inc. has a 1 year low of $157.07 and a 1 year high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The company had revenue of $419.07 million during 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 forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. Alamo Group's dividend payout ratio (DPR) is presently 12.22%.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction dated 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 sale, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ALG shares. 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. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, DA Davidson restated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. One 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's stock. Based on data from MarketBeat, Alamo Group currently has a consensus rating of "Buy" and a consensus price target of $234.00.

Alamo Group Company 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.