Deutsche Bank AG Takes Position in Alamo Group, Inc. $ALG

Key Points

• Deutsche Bank acquired 11,132 shares of Alamo Group worth approximately $1.83 million, joining other institutions that increased their positions. Institutional investors collectively own 92.36% of ALG.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and a $188 price target. Recent quarterly results also exceeded expectations, with EPS of $2.82 versus the $2.74 consensus and revenue of $450.73 million.
• ALG shares opened at $165.09, near their 50-day moving average, while the company pays a quarterly dividend of $0.34 per share, representing an annualized yield of approximately 0.8%. An executive vice president recently sold 2,715 shares at an average price of $164.41.

Deutsche Bank AG acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,132 shares of the industrial products company's stock, valued at approximately $1,831,000. Deutsche Bank AG owned about 0.09% of Alamo Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alamo Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company's stock worth $1,084,000 after buying an additional 251 shares in the last quarter. Millennium Management LLC increased its stake in shares of 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 buying an additional 39,564 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after purchasing an additional 314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alamo Group by 12.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company's stock valued at $6,444,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Alamo Group by 83.7% during the 2nd quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company's stock valued at $16,899,000 after acquiring an additional 35,248 shares during the period. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Alamo Group in a report on Friday, August 21st. Zacks Research upgraded Alamo Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, DA Davidson reissued a "neutral" rating and set a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $188.00.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the sale, the executive vice president directly owned 8,142 shares of the company's stock, valued at approximately $1,338,626.22. This represents a 25.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.06% of the company's stock.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $165.09 on Friday. Alamo Group, Inc. has a 1 year low of $145.76 and a 1 year high of $219.88. The firm's 50-day moving average is $164.36 and its 200 day moving average is $169.07. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 0.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%.The business had revenue of $450.73 million for the quarter, compared to analysts' expectations of $437.48 million. Sell-side analysts anticipate that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group's payout ratio is 16.31%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

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