Ieq Capital LLC Takes $494,000 Position in Alamo Group, Inc. $ALG

Key Points

• Ieq Capital LLC made a new investment of approximately $494,000 in Alamo Group, Inc., acquiring 2,770 shares in the first quarter of the year.
• Despite missing earnings estimates with $2.57 EPS, Alamo Group reported a revenue of $419.07 million, surpassing analyst expectations.
• Alamo Group's stock has a current PE ratio of 21.42 and a market cap of $2.55 billion, with various analysts giving mixed ratings ranging from "buy" to "hold."

Ieq Capital LLC purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,770 shares of the industrial products company's stock, valued at approximately $494,000.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Alamo Group in the 4th quarter valued at approximately $200,000. Northern Trust Corp increased its holdings in shares of Alamo Group by 7.7% during the 4th quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock worth $31,100,000 after buying an additional 11,930 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Alamo Group by 125.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,400 shares of the industrial products company's stock worth $1,004,000 after buying an additional 3,000 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Alamo Group by 338.4% during the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after buying an additional 89,430 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Alamo Group by 34.3% in the 4th quarter. BNP Paribas Financial Markets now owns 8,109 shares of the industrial products company's stock valued at $1,508,000 after purchasing an additional 2,069 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a report on Friday. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. DA Davidson reiterated a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Robert W. Baird upgraded 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 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $234.00.

Alamo Group Stock Performance

ALG stock traded down $5.48 during midday trading on Tuesday, reaching $206.29. The company had a trading volume of 26,545 shares, compared to its average volume of 108,301. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $219.68 and a 200 day moving average price of $199.35. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29. The firm has a market capitalization of $2.50 billion, a PE ratio of 20.98, a P/E/G ratio of 1.09 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to the consensus estimate of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. Analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

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

Insider Buying and Selling at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.18% of the company's stock.

Alamo Group 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.