Renaissance Technologies LLC Purchases 14,000 Shares of Alamo Group, Inc. $ALG

Key Points

• Renaissance Technologies increased its Alamo Group stake by 583.3% in the first quarter, purchasing 14,000 additional shares and bringing its total holding to 16,400 shares worth approximately $2.7 million.
• Institutional investors own 92.36% of Alamo Group, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $188.
• Alamo Group exceeded quarterly expectations, reporting $2.82 in adjusted earnings per share and $450.73 million in revenue; it also maintains a quarterly dividend of $0.34 per share, yielding about 0.8%.

Renaissance Technologies LLC raised its position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 583.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the industrial products company's stock after buying an additional 14,000 shares during the quarter. Renaissance Technologies LLC owned about 0.13% of Alamo Group worth $2,706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 177 shares during the period. Jones Financial Companies Lllp boosted its stake in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock worth $58,000 after acquiring an additional 314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Alamo Group in the second quarter worth about $87,000. Kestra Advisory Services LLC purchased a new stake in Alamo Group in the fourth quarter worth about $76,000. Finally, Globeflex Capital L P bought a new position in shares of Alamo Group during the second quarter valued at approximately $100,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. DA Davidson reiterated a "neutral" rating and set a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st. Zacks Research upgraded Alamo Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings lowered Alamo Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. One 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. According to data from MarketBeat.com, Alamo Group has a consensus rating of "Moderate Buy" and a consensus target price of $188.00.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $168.55 on Monday. Alamo Group, Inc. has a 1 year low of $145.76 and a 1 year high of $233.29. The firm's 50-day moving average is $161.09 and its 200 day moving average is $172.16. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.01 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.08. The business had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. Sell-side analysts anticipate that Alamo Group, Inc. will post 10.48 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group's dividend payout ratio is presently 16.31%.

About Alamo Group

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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