First Trust Advisors LP Increases Stock Position in Alamo Group, Inc. $ALG

Key Points

• First Trust Advisors LP increased its stake in Alamo Group by 5.4% in the first quarter, adding 24,184 shares to bring its total holding to 469,289 shares worth about $77.4 million.
• Institutional ownership remains very high, with 92.36% of Alamo Group stock held by hedge funds and other institutions. Several other investors also boosted or initiated positions during recent quarters.
• Alamo Group reported better-than-expected quarterly results, posting EPS of $2.56 versus the $2.20 estimate and revenue of $417.15 million versus the $398.02 million forecast. The company also announced a quarterly dividend of $0.34 per share, payable July 29.

First Trust Advisors LP grew its position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 469,289 shares of the industrial products company's stock after purchasing an additional 24,184 shares during the period. First Trust Advisors LP owned approximately 3.86% of Alamo Group worth $77,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALG. Global Retirement Partners LLC grew its holdings in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 177 shares during the last quarter. Jones Financial Companies Lllp boosted its position in 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 valued at $58,000 after buying an additional 314 shares during the period. Kestra Advisory Services LLC bought a new position in Alamo Group in the 4th quarter worth about $76,000. State of Wyoming grew its stake in Alamo Group by 76.5% in the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company's stock worth $79,000 after acquiring an additional 205 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Alamo Group by 861.5% during the fourth quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company's stock worth $84,000 after acquiring an additional 448 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALG has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Alamo Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Zacks Research upgraded Alamo Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, DA Davidson restated a "neutral" rating and issued a $188.00 price target on shares of Alamo Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $224.00.

Alamo Group Stock Performance

Shares of NYSE ALG opened at $165.32 on Friday. The company has a 50 day simple moving average of $158.62 and a two-hundred day simple moving average of $173.97. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.97 and a beta of 1.09. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23. Alamo Group, Inc. has a 12 month low of $145.76 and a 12 month high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.36. The company had revenue of $417.15 million during the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. As a group, analysts predict that Alamo Group, Inc. will post 10.65 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, July 16th. Alamo Group's dividend payout ratio is presently 16.27%.

Alamo Group 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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