Third Avenue Management LLC Decreases Stock Position in Alamo Group, Inc. $ALG

Key Points

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Third Avenue Management LLC lessened its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,546 shares of the industrial products company's stock after selling 6,334 shares during the quarter. Third Avenue Management LLC owned about 0.21% of Alamo Group worth $4,553,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ALG. Hsbc Holdings PLC lifted its position in Alamo Group by 26.4% during the first quarter. Hsbc Holdings PLC now owns 3,001 shares of the industrial products company's stock valued at $538,000 after purchasing an additional 626 shares during the period. Quantbot Technologies LP raised its stake in Alamo Group by 79.1% during the 1st quarter. Quantbot Technologies LP now owns 5,364 shares of the industrial products company's stock valued at $956,000 after buying an additional 2,369 shares during the last quarter. Cresset Asset Management LLC raised its stake in Alamo Group by 39.8% during the 1st quarter. Cresset Asset Management LLC now owns 1,610 shares of the industrial products company's stock valued at $287,000 after buying an additional 458 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alamo Group by 266.2% during the 1st quarter. American Century Companies Inc. now owns 50,969 shares of the industrial products company's stock valued at $9,083,000 after buying an additional 37,051 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Alamo Group by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 7,019 shares of the industrial products company's stock worth $1,251,000 after buying an additional 446 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Alamo Group Stock Performance

Shares of NYSE ALG traded up $9.14 during trading on Friday, hitting $221.83. The company had a trading volume of 84,974 shares, compared to its average volume of 85,311. Alamo Group, Inc. has a 12 month low of $157.07 and a 12 month high of $233.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The firm has a market capitalization of $2.69 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The stock has a 50 day simple moving average of $220.52 and a 200 day simple moving average of $197.24.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $406.75 million. As a group, analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio (DPR) is presently 12.22%.

Alamo Group Company 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.