Third Avenue Management LLC Sells 6,334 Shares of Alamo Group, Inc. $ALG

Key Points

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Third Avenue Management LLC decreased its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 19.9% in the first quarter, according to its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after purchasing an additional 125 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after purchasing an additional 61 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Alamo Group in the fourth quarter worth $79,000. Finally, CWM LLC raised its stake in shares of Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company's stock worth $175,000 after purchasing an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Stock Performance

Alamo Group stock traded up $9.14 during mid-day trading on Friday, reaching $221.83. 84,974 shares of the stock traded hands, compared to its average volume of 87,282. The stock has a market capitalization of $2.69 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.56 and a quick ratio of 2.76. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The business's 50-day moving average is $220.52 and its 200-day moving average is $197.34.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The firm had revenue of $419.07 million for 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%. As a group, sell-side analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group's payout ratio is currently 12.22%.

Analysts Set New Price Targets

ALG has been the subject of several recent analyst reports. Baird R W upgraded Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alamo Group has an average rating of "Buy" and a consensus price target of $234.00.

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.