Punch & Associates Investment Management Inc. Takes Position in Alamo Group, Inc. $ALG

Key Points

• Punch & Associates acquired 75,589 Alamo Group shares worth approximately $12.4 million, giving it a 0.62% stake. Institutional investors collectively own 92.36% of the company.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and an average price target of $188.00, compared with ALG’s opening price of $164.32.
• Alamo Group exceeded quarterly expectations, reporting earnings of $2.82 per share versus the $2.74 consensus and revenue of $450.73 million versus $437.48 million expected. The company also pays a quarterly dividend of $0.34, yielding about 0.8% annually.

Punch & Associates Investment Management Inc. acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 75,589 shares of the industrial products company's stock, valued at approximately $12,434,000. Punch & Associates Investment Management Inc. owned about 0.62% of Alamo Group as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Alamo Group during the second quarter worth $288,972,000. Vanguard Group Inc. raised its stake in Alamo Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company's stock worth $134,000,000 after acquiring an additional 12,499 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Alamo Group by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company's stock worth $87,006,000 after acquiring an additional 27,597 shares during the period. First Trust Advisors LP grew its stake in Alamo Group by 5.4% during the 1st quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company's stock valued at $77,419,000 after purchasing an additional 24,184 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Alamo Group by 7.4% during the 4th quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company's stock valued at $77,683,000 after purchasing an additional 31,860 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Analysts Set New Price Targets

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

Alamo Group Price Performance

Shares of ALG stock opened at $164.32 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48. The company has a market capitalization of $2.00 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. The firm's 50-day moving average is $164.23 and its two-hundred day moving average is $169.41. Alamo Group, Inc. has a 12 month low of $145.76 and a 12 month high of $219.88.

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

Alamo Group Dividend Announcement

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

Insiders Place Their Bets

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

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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