Man Group plc Takes Position in Alamo Group, Inc. $ALG

Key Points

• Man Group plc acquired 13,974 shares of Alamo Group in the second quarter, valued at approximately $2.3 million and representing 0.11% of the company. Institutional investors and hedge funds collectively own 92.36% of ALG.
• Alamo Group reported quarterly earnings of $2.82 per share, exceeding the $2.74 consensus estimate, while revenue of $450.73 million also surpassed expectations.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $188, compared with the stock’s recent price of $163.64. The company also pays a quarterly dividend of $0.34 per share, yielding approximately 0.8%.

Man Group plc acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,974 shares of the industrial products company's stock, valued at approximately $2,299,000. Man Group plc owned 0.11% of Alamo Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALG. Global Retirement Partners LLC acquired a new position in Alamo Group in the 2nd quarter valued at about $35,000. Jones Financial Companies Lllp increased its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after buying an additional 314 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Alamo Group during the 4th quarter valued at approximately $76,000. State of Wyoming raised its position in shares of Alamo Group by 76.5% during the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company's stock valued at $79,000 after buying an additional 205 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in Alamo Group by 861.5% in the fourth quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 448 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president owned 8,142 shares in the company, valued at $1,338,626.22. The trade was a 25.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALG shares. DA Davidson reiterated a "neutral" rating and issued a $188.00 price objective on shares of Alamo Group in a research report on Wednesday, July 1st. Zacks Research raised Alamo Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Alamo Group in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Alamo Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.00.

Alamo Group Stock Down 0.6%

Shares of NYSE ALG opened at $163.64 on Wednesday. The stock has a market cap of $1.99 billion, a P/E ratio of 19.62, a PEG ratio of 0.97 and a beta of 1.09. The business's fifty day simple moving average is $164.52 and its 200-day simple moving average is $168.16. Alamo Group, Inc. has a 12-month low of $145.76 and a 12-month high of $219.88. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.08. The company had revenue of $450.73 million for the quarter, compared to the consensus estimate of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. As a group, equities analysts predict that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, July 16th. Alamo Group's dividend payout ratio is presently 16.31%.

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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