OMERS ADMINISTRATION Corp Acquires New Shares in Alamo Group, Inc. $ALG

Key Points

• OMERS ADMINISTRATION Corp has acquired 4,200 shares of Alamo Group, Inc. (NYSE:ALG), worth approximately $748,000, signaling growing institutional interest in the company.
• CEO Jeffery Allen Leonard sold 2,500 shares at an average price of $222.19, a transaction totaling $555,475, reducing his position by 6.11%.
• Alamo Group reported a quarterly EPS of $2.57, missing analysts' expectations, though the company had a revenue of $419.07 million, exceeding estimates of $406.75 million.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,200 shares of the industrial products company's stock, valued at approximately $748,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ninepoint Partners LP purchased a new stake in Alamo Group in the first quarter worth $40,988,000. Bank of America Corp DE increased its position in Alamo Group by 826.1% in the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock worth $24,260,000 after buying an additional 116,404 shares during the last quarter. SG Capital Management LLC bought a new position in shares of Alamo Group in the fourth quarter worth $16,971,000. Ameriprise Financial Inc. boosted its holdings in shares of Alamo Group by 338.4% in the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after acquiring an additional 89,430 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Alamo Group by 22.9% in the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock worth $71,437,000 after acquiring an additional 74,679 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. The trade was a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is currently owned by corporate insiders.

Alamo Group Trading Down 0.7%

Shares of ALG traded down $1.43 during trading hours on Friday, hitting $209.12. The company had a trading volume of 52,797 shares, compared to its average volume of 73,057. The firm has a market cap of $2.53 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.09 and a beta of 1.10. The stock's 50 day moving average price is $219.83 and its 200 day moving average price is $199.12. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. 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 released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.12). The company had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, research analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on ALG shares. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $209.00 to $260.00 in a report on Monday, August 4th. DA Davidson reaffirmed a "neutral" rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Alamo Group currently has a consensus rating of "Buy" and a consensus target price of $234.00.

Alamo Group 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.