T. Rowe Price Investment Management Inc. Raises Holdings in Alamo Group, Inc. $ALG

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Alamo Group, buying an additional 2,919 shares to hold a total of 91,505 shares, valued at approximately $16.3 million.
• Alamo Group's stock has shown positive momentum, opening at $221.83, with a market capitalization of $2.69 billion and a PE ratio of 22.59.
• Analysts have mixed ratings on Alamo Group, with target prices ranging from $225 to $260, indicating a general bullish sentiment despite a recent earnings miss.

T. Rowe Price Investment Management Inc. raised its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,505 shares of the industrial products company's stock after purchasing an additional 2,919 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.76% of Alamo Group worth $16,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Alamo Group by 80.0% during the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 72 shares during the period. GAMMA Investing LLC increased its holdings in Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after buying an additional 125 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 61 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Alamo Group during the 4th quarter valued at about $79,000. Finally, CWM LLC grew its stake in shares of Alamo Group by 520.9% during the 1st quarter. CWM LLC now owns 981 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 823 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Down 2.3%

Alamo Group stock traded down $5.03 during trading on Friday, reaching $209.99. 27,197 shares of the company were exchanged, compared to its average volume of 109,704. Alamo Group, Inc. has a 52-week low of $157.07 and a 52-week 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. The company has a market capitalization of $2.54 billion, a P/E ratio of 21.40, a PEG ratio of 1.14 and a beta of 1.10. The stock's 50 day simple moving average is $220.61 and its two-hundred day simple moving average is $198.05.

Alamo Group (NYSE:ALG - Get Free Report) last posted 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). The firm had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. On average, equities research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is currently 12.22%.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of analyst reports. DA Davidson reaffirmed a "neutral" rating and set a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a report on Sunday, August 24th. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Finally, Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $209.00 to $260.00 in a research 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.com, the company has an average rating of "Buy" and an average price target of $234.00.

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.