Rice Hall James & Associates LLC Purchases New Position in Alamo Group, Inc. $ALG

Key Points

• Rice Hall James & Associates acquired 13,834 Alamo Group shares worth approximately $2.28 million during the second quarter, while institutional investors collectively own 92.36% of the company.
• Alamo Group reported quarterly EPS of $2.82, beating the $2.74 analyst consensus, and revenue of $450.73 million versus estimates of $437.48 million.
• Shares opened at $159.56, down 1.4%, while analysts maintain a “Moderate Buy” consensus with an average price target of $188. The company also pays a quarterly dividend of $0.34, yielding about 0.9%.

Rice Hall James & Associates LLC acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,834 shares of the industrial products company's stock, valued at approximately $2,276,000. Rice Hall James & Associates LLC owned 0.11% of Alamo Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Alamo Group in the second quarter valued at about $35,000. Jones Financial Companies Lllp raised its holdings in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after buying an additional 314 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Alamo Group during the 2nd quarter worth approximately $87,000. Kestra Advisory Services LLC acquired a new position in Alamo Group during the 4th quarter worth approximately $76,000. Finally, Globeflex Capital L P purchased a new position in Alamo Group in the 2nd quarter worth approximately $100,000. Institutional investors and hedge funds own 92.36% of the company's stock.

Insider Activity at Alamo Group

In other news, EVP Edward Rizzuti sold 2,715 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were 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 approximately $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.06% of the company's stock.

Alamo Group Stock Down 1.4%

Shares of NYSE ALG opened at $159.56 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. Alamo Group, Inc. has a 1 year low of $145.76 and a 1 year high of $227.07. The stock's 50-day simple moving average is $163.04 and its 200-day simple moving average is $170.85. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.98 and a beta of 1.10.

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

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group's dividend payout ratio is presently 16.31%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALG shares. Zacks Research raised shares of Alamo Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. DA Davidson reissued a "neutral" rating and set a $188.00 target price on shares of Alamo Group in a research report on Wednesday, July 1st. Finally, Weiss Ratings downgraded shares of Alamo Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.00.

Alamo Group Company 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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