Punch & Associates Investment Management Inc. Raises Stock Position 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. increased its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,964 shares of the industrial products company's stock after acquiring an additional 1,461 shares during the period. Punch & Associates Investment Management Inc. owned approximately 0.60% of Alamo Group worth $12,825,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ALG. Ninepoint Partners LP acquired a new stake in shares of Alamo Group during the 1st quarter valued at about $40,988,000. Bank of America Corp DE raised its position in shares of Alamo Group by 826.1% during 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 purchasing an additional 116,404 shares during the last quarter. SG Capital Management LLC acquired a new position in shares of Alamo Group during the 4th quarter worth about $16,971,000. Ameriprise Financial Inc. raised its position in shares of Alamo Group by 338.4% during the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock worth $21,539,000 after purchasing an additional 89,430 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Alamo Group by 22.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock worth $71,437,000 after purchasing an additional 74,679 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Trading Up 2.6%

Alamo Group stock traded up $5.45 during midday trading on Thursday, hitting $211.55. 138,883 shares of the stock were exchanged, compared to its average volume of 108,414. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.09 and a beta of 1.10. The stock's 50-day simple moving average is $219.00 and its 200 day simple moving average is $199.46. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data 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). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. On average, equities analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were given a $0.30 dividend. The ex-dividend date of this dividend 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 presently 12.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $209.00 to $260.00 in a research report on Monday, August 4th. Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, DA Davidson reiterated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $234.00.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.18% of the stock is owned by insiders.

About Alamo Group

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.