Dean Capital Management Buys 3,648 Shares of Alamo Group, Inc. $ALG

Key Points

• Dean Capital Management increased its stake in Alamo Group by 23.2% during the 1st quarter, now holding 19,406 shares, which represents 1.5% of its portfolio and makes it the firm's 2nd largest holding.
• A number of institutional investors also bought shares recently, with significant increases from Bank of America Corp (826.1%) and Ameriprise Financial Inc. (338.4%), leading to institutional investors owning 92.36% of Alamo Group's stock.
• Analyst ratings for Alamo Group have been predominantly positive, with a consensus rating of "Buy" and an average price target of $234.00 following upgrades from firms like Robert W. Baird.

Dean Capital Management increased its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 23.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,406 shares of the industrial products company's stock after purchasing an additional 3,648 shares during the period. Alamo Group accounts for 1.5% of Dean Capital Management's holdings, making the stock its 2nd biggest holding. Dean Capital Management owned about 0.16% of Alamo Group worth $3,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp boosted its stake in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 314 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Alamo Group by 2.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 71,964 shares of the industrial products company's stock valued at $12,825,000 after acquiring an additional 1,461 shares in the last quarter. Millennium Management LLC boosted its stake in Alamo Group by 164.7% in the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company's stock valued at $11,332,000 after acquiring an additional 39,564 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alamo Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company's stock valued at $1,084,000 after acquiring an additional 251 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Alamo Group in the first quarter valued at approximately $3,839,000. 92.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and raised their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. DA Davidson restated a "neutral" rating and issued a $225.00 target price on shares of Alamo Group in a research note on Tuesday, July 22nd. Finally, Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $234.00.

Alamo Group Stock Performance

Shares of NYSE:ALG traded down $5.21 on Friday, hitting $206.05. 77,310 shares of the company were exchanged, compared to its average volume of 67,703. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29. The stock's 50 day moving average price is $218.30 and its 200 day moving average price is $199.98. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.50 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last posted 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 company had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Sell-side analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

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

Insider Activity at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares of the company's stock, valued at $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.18% of the company's stock.

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.