Punch & Associates Investment Management Inc. Has $12.83 Million Holdings in Alamo Group, Inc. $ALG

Key Points

• Punch & Associates Investment Management Inc. increased its holdings in Alamo Group, Inc. to approximately $12.83 million, representing a 2.1% increase in their stake.
• Alamo Group reported a missed earnings estimate for the last quarter, with earnings per share at $2.57 compared to the consensus estimate of $2.69, while revenue exceeded expectations at $419.07 million.
• The firm recently declared a quarterly dividend of $0.30 per share, with an annualized yield of 0.6% and a payout ratio of 12.22%.

Punch & Associates Investment Management Inc. lifted its stake in Alamo Group, Inc. (NYSE:ALG - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,964 shares of the industrial products company's stock after buying an additional 1,461 shares during the period. Punch & Associates Investment Management Inc. owned about 0.60% of Alamo Group worth $12,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALG. Raymond James Financial Inc. acquired a new position in shares of Alamo Group in the 4th quarter worth approximately $200,000. Northern Trust Corp raised its holdings in shares of Alamo Group by 7.7% in the 4th quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock worth $31,100,000 after buying an additional 11,930 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after buying an additional 89,430 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Alamo Group by 34.3% in the 4th quarter. BNP Paribas Financial Markets now owns 8,109 shares of the industrial products company's stock worth $1,508,000 after buying an additional 2,069 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Alamo Group by 826.1% in the 4th 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 in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $209.12 on Friday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The stock's 50-day moving average is $219.83 and its 200-day moving average is $199.05. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $233.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share 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 the consensus estimate of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. Equities analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group's payout ratio is 12.22%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALG. DA Davidson reaffirmed a "neutral" rating and set 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 report on Monday, August 4th. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a report on Friday. Finally, Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and raised their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Alamo Group presently has a consensus rating of "Buy" and a consensus price target of $234.00.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction that occurred 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 owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company's stock.

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.

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