Invesco Ltd. Boosts Stake in Alamo Group, Inc. $ALG

Key Points

• Invesco Ltd. has increased its stake in Alamo Group, Inc. by 3.9%, now owning approximately 0.35% of the company, valued at $7.5 million.
• Alamo Group reported earnings per share of $2.57 for the last quarter, which missed analysts' expectations, although its revenue of $419.07 million exceeded estimates.
• The company recently announced a quarterly dividend of $0.30 per share, reflecting an annualized yield of 0.6% and a payout ratio of 12.22%.

Invesco Ltd. lifted its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,137 shares of the industrial products company's stock after buying an additional 1,599 shares during the period. Invesco Ltd. owned approximately 0.35% of Alamo Group worth $7,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALG. Parallel Advisors LLC lifted its stake in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after buying an additional 72 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after buying an additional 125 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after buying an additional 61 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Alamo Group in the fourth quarter worth about $79,000. Finally, CWM LLC lifted its stake in shares of Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company's stock worth $175,000 after buying an additional 823 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Trading Down 1.5%

Shares of ALG stock opened at $218.1510 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The stock has a market capitalization of $2.64 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The company has a 50 day moving average price of $220.55 and a 200 day moving average price of $197.58. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. Equities research analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALG shares. DA Davidson reaffirmed a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Sunday. Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One investment 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 stock. Based on data from MarketBeat.com, Alamo Group presently has a consensus rating of "Buy" and a consensus target price 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.

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