M&T Bank Corp Purchases Shares of 7,185 Alamo Group, Inc. $ALG

Key Points

• M&T Bank Corp purchased a new stake of 7,185 shares in Alamo Group (NYSE:ALG) during Q4, valued at about $1.206 million and representing roughly 0.06% of the company.
• Institutional ownership is very high at 92.36%, with major funds such as Vanguard, Allspring and Wasatch increasing positions and Vaughan Nelson initiating an approximately $39.2 million stake.
• Alamo Group missed quarterly estimates with EPS of $1.70 and revenue of $373.65 million versus expectations, yet analysts' consensus remains a Moderate Buy with an average price target of $225.00.

M&T Bank Corp purchased a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,185 shares of the industrial products company's stock, valued at approximately $1,206,000. M&T Bank Corp owned about 0.06% of Alamo Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Alamo Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company's stock valued at $149,997,000 after purchasing an additional 9,571 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Alamo Group by 9.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company's stock worth $113,562,000 after acquiring an additional 57,456 shares during the last quarter. First Trust Advisors LP grew its position in shares of Alamo Group by 2.4% during the third quarter. First Trust Advisors LP now owns 393,487 shares of the industrial products company's stock worth $75,117,000 after acquiring an additional 9,297 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Alamo Group by 38.5% during the third quarter. Wasatch Advisors LP now owns 326,051 shares of the industrial products company's stock worth $62,243,000 after acquiring an additional 90,556 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Alamo Group during the fourth quarter worth approximately $39,213,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALG. Weiss Ratings restated a "hold (c)" rating on shares of Alamo Group in a research report on Friday, March 27th. William Blair began coverage on shares of Alamo Group in a research report on Monday, March 16th. They set an "outperform" rating on the stock. Zacks Research lowered shares of Alamo Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 5th. Finally, DA Davidson restated a "neutral" rating and set a $190.00 target price on shares of Alamo Group in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $225.00.

Alamo Group Stock Performance

Shares of ALG opened at $168.51 on Thursday. The company has a 50-day simple moving average of $177.52 and a 200-day simple moving average of $179.42. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.04 billion, a PE ratio of 19.62, a P/E/G ratio of 1.04 and a beta of 1.20. Alamo Group, Inc. has a 52-week low of $156.29 and a 52-week high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.36). Alamo Group had a return on equity of 10.04% and a net margin of 6.47%.The company had revenue of $373.65 million for the quarter, compared to analysts' expectations of $405.18 million. Equities research analysts predict that Alamo Group, Inc. will post 10.32 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group's dividend payout ratio (DPR) is 15.83%.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total value of $87,419.81. Following the completion of the transaction, the director directly owned 2,844 shares of the company's stock, valued at approximately $498,240.36. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward Rizzuti sold 600 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the transaction, the executive vice president directly owned 10,857 shares of the company's stock, valued at approximately $1,855,787.01. This trade represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.06% of the stock is currently owned by corporate insiders.

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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