Vanguard Group Inc. Has $137.04 Million Stock Holdings in Alamo Group, Inc. $ALG

Key Points

• Vanguard Group Inc. has increased its holdings in Alamo Group, Inc. by 6.6%, acquiring an additional 47,819 shares for a total of 768,973 shares valued at approximately $137 million.
• Alamo Group recently reported earnings of $2.57 per share, which was below analysts' expectations of $2.69, yet achieved revenue of $419.07 million compared to the consensus estimate of $406.75 million.
• Analysts from Robert W. Baird upgraded Alamo Group's rating from "neutral" to "outperform" with a price target increase to $260, reflecting strong market sentiment towards the stock.

Vanguard Group Inc. increased its position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 768,973 shares of the industrial products company's stock after acquiring an additional 47,819 shares during the period. Vanguard Group Inc. owned about 6.36% of Alamo Group worth $137,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in Alamo Group by 4.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock valued at $125,732,000 after purchasing an additional 26,835 shares during the last quarter. Victory Capital Management Inc. boosted its position in Alamo Group by 12.9% during the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock valued at $90,320,000 after purchasing an additional 58,097 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Alamo Group by 22.9% during the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock valued at $71,437,000 after purchasing an additional 74,679 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Alamo Group during the first quarter valued at $40,988,000. Finally, Northern Trust Corp boosted its position in Alamo Group by 7.7% during the fourth quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock valued at $31,100,000 after purchasing an additional 11,930 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares of the company's stock, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company's stock.

Alamo Group Stock Down 0.1%

Shares of NYSE:ALG traded down $0.23 on Wednesday, reaching $217.74. The company had a trading volume of 70,046 shares, compared to its average volume of 86,726. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29. The stock has a 50-day moving average price of $220.62 and a 200 day moving average price of $197.86. The stock has a market capitalization of $2.64 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.14 and a beta of 1.10. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The company had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. On average, equities analysts expect that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors 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 0.6%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group's payout ratio is currently 12.22%.

Analyst Ratings Changes

A number of analysts recently issued reports on ALG shares. DA Davidson reissued a "neutral" rating and set a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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.