Alamo Group, Inc. $ALG Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Alamo Group by 44.5%, owning 8,419 shares worth approximately $1.5 million after acquiring an additional 2,592 shares in the first quarter.
• Several large investors, including Vanguard Group Inc. and Victory Capital Management Inc., also increased their holdings in Alamo Group, indicating strong institutional interest in the company.
• The company reported Q2 earnings of $2.57 per share, missing estimates, while revenues reached $419.07 million, exceeding expectations, and has declared a quarterly dividend of $0.30.

Jump Financial LLC raised its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 44.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,419 shares of the industrial products company's stock after buying an additional 2,592 shares during the quarter. Jump Financial LLC owned 0.07% of Alamo Group worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in Alamo Group by 31.6% in the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock valued at $49,000 after buying an additional 65 shares during the period. AlphaQuest LLC raised its position in shares of Alamo Group by 596.2% during the first quarter. AlphaQuest LLC now owns 3,648 shares of the industrial products company's stock worth $650,000 after purchasing an additional 3,124 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Alamo Group by 3.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 91,505 shares of the industrial products company's stock worth $16,308,000 after purchasing an additional 2,919 shares during the period. Hsbc Holdings PLC raised its position in shares of Alamo Group by 26.4% during the first quarter. Hsbc Holdings PLC now owns 3,001 shares of the industrial products company's stock worth $538,000 after purchasing an additional 626 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Alamo Group by 79.1% during the first quarter. Quantbot Technologies LP now owns 5,364 shares of the industrial products company's stock worth $956,000 after purchasing an additional 2,369 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ALG shares. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $209.00 to $260.00 in a report on Monday, August 4th. DA Davidson restated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded Alamo Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. One research 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. According to data from MarketBeat.com, Alamo Group has an average rating of "Buy" and a consensus price target of $234.00.

Alamo Group Price Performance

Shares of Alamo Group stock traded down $1.74 during trading on Tuesday, hitting $209.72. 23,394 shares of the stock traded hands, compared to its average volume of 109,616. 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 market cap of $2.54 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.10 and a beta of 1.10. The firm's fifty day moving average is $220.52 and its 200-day moving average is $198.59. Alamo Group, Inc. has a 52 week low of $157.07 and a 52 week high of $233.29.

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

Alamo Group Dividend Announcement

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

Alamo Group Company 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.