Charles Schwab Investment Management Inc. Grows Holdings 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. raised its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,724 shares of the industrial products company's stock after acquiring an additional 5,679 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.21% of Alamo Group worth $26,148,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after acquiring an additional 61 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Alamo Group by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares in the last quarter. Parallel Advisors LLC boosted its position in Alamo Group by 80.0% during the first 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 boosted its position in Alamo Group by 4.1% during the first 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. Finally, Heritage Family Offices LLP boosted its position in Alamo Group by 8.3% during the first 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. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Stock Performance

NYSE:ALG traded down $3.09 during mid-day trading on Monday, reaching $218.43. The company's stock had a trading volume of 34,321 shares, compared to its average volume of 110,867. The firm's fifty day moving average price is $220.52 and its two-hundred day moving average price is $197.34. The stock has a market cap of $2.65 billion, a P/E ratio of 22.27, a PEG ratio of 1.16 and a beta of 1.10. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results 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). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The business had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million. On average, equities analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALG. DA Davidson reiterated a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a research report on Tuesday, July 22nd. Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Wall Street Zen cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and increased their price target for the company from $209.00 to $260.00 in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $234.00.

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.