Janus Henderson Group PLC Grows Stake in Alamo Group, Inc. $ALG

Key Points

• Janus Henderson increased its Alamo Group stake by 13.8% in the first quarter, bringing its holdings to 167,983 shares valued at approximately $27.7 million. Institutional investors collectively own 92.36% of the company.
• Alamo Group reported quarterly earnings of $2.56 per share, surpassing estimates of $2.20, while revenue of $417.15 million also exceeded forecasts. The company declared a quarterly dividend of $0.34 per share, representing a 0.9% yield.
• ALG shares opened at $159.13, well below their 52-week high of $233.29. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $224.00.

Janus Henderson Group PLC grew its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,983 shares of the industrial products company's stock after acquiring an additional 20,410 shares during the quarter. Janus Henderson Group PLC owned about 1.38% of Alamo Group worth $27,713,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wasatch Advisors LP purchased a new stake in Alamo Group during the 2nd quarter valued at about $51,427,000. Vaughan Nelson Investment Management L.P. increased its stake in Alamo Group by 53.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 358,435 shares of the industrial products company's stock valued at $59,131,000 after purchasing an additional 124,845 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Alamo Group by 189.3% in the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company's stock worth $29,936,000 after buying an additional 118,737 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Alamo Group by 239.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company's stock worth $26,404,000 after buying an additional 110,941 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Alamo Group by 72.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company's stock worth $38,641,000 after buying an additional 96,369 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Stock Performance

Shares of ALG stock opened at $159.13 on Monday. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $159.62 and a 200-day moving average price of $173.03. Alamo Group, Inc. has a 52 week low of $145.76 and a 52 week high of $233.29. The firm has a market capitalization of $1.94 billion, a PE ratio of 19.03, a P/E/G ratio of 0.93 and a beta of 1.10.

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

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group's dividend payout ratio is presently 16.27%.

Analysts Set New Price Targets

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

About Alamo Group

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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