Charles Schwab Investment Management Inc. Grows Stake in Alamo Group, Inc. $ALG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Alamo Group, holding 1.21% of the company, equivalent to approximately $26.15 million, following a 4% increase with the addition of 5,679 shares.
• Institutional investors now own 92.36% of Alamo Group's stock, with significant increases in holdings from firms like Wells Fargo and Envestnet Asset Management.
• Alamo Group reported a miss on earnings per share for the last quarter, with EPS at $2.57 versus the expected $2.69, despite revenue exceeding estimates at $419.07 million.

Charles Schwab Investment Management Inc. grew its stake in Alamo Group, Inc. (NYSE:ALG - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,724 shares of the industrial products company's stock after purchasing an additional 5,679 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.21% of Alamo Group worth $26,148,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Alamo Group by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock valued at $137,039,000 after purchasing an additional 47,819 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Alamo Group by 22.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock valued at $71,437,000 after purchasing an additional 74,679 shares during the last quarter. US Bancorp DE lifted its stake in shares of Alamo Group by 7.1% during the 1st quarter. US Bancorp DE now owns 17,943 shares of the industrial products company's stock worth $3,198,000 after acquiring an additional 1,182 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $12,920,000. Finally, Royce & Associates LP bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $419,000. 92.36% of the stock is owned by institutional investors.

Alamo Group Trading Down 0.4%

ALG traded down $0.93 during trading on Tuesday, hitting $217.93. 59,171 shares of the stock were exchanged, compared to its average volume of 87,218. The firm has a 50 day simple moving average of $220.57 and a 200 day simple moving average of $197.72. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.14 and a beta of 1.10. Alamo Group, Inc. has a 1 year low of $157.07 and a 1 year high of $233.29. 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 (NYSE:ALG - Get Free Report) last released its quarterly earnings data 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). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million for the quarter, compared to analysts' expectations of $406.75 million. As a group, equities analysts expect that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is 12.22%.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALG shares. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and raised 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. Wall Street Zen lowered Alamo Group from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, DA Davidson reissued a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. One equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.