Virtu Financial LLC Takes Position in Alamo Group, Inc. $ALG

Key Points

• Virtu Financial LLC has acquired 1,673 shares of Alamo Group, Inc., valued at approximately $298,000, during the first quarter.
• The stock of Alamo Group has a market cap of $2.69 billion and has recently experienced fluctuating performance, opening at $221.89 with a 52-week range of $157.07 to $233.29.
• Alamo Group announced a quarterly dividend of $0.30 per share, representing a 0.5% dividend yield and a payout ratio of 12.22%.

Virtu Financial LLC purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,673 shares of the industrial products company's stock, valued at approximately $298,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Alamo Group by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock worth $137,039,000 after acquiring an additional 47,819 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 12.9% in the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock worth $90,320,000 after buying an additional 58,097 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Alamo Group by 22.9% in the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company's stock worth $71,437,000 after buying an additional 74,679 shares in the last quarter. Finally, Ninepoint Partners LP purchased a new position in Alamo Group during the first quarter worth about $40,988,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Performance

ALG stock traded down $4.70 during midday trading on Tuesday, hitting $220.31. 52,997 shares of the company traded hands, compared to its average volume of 112,025. The business has a 50 day simple moving average of $220.16 and a 200-day simple moving average of $196.35. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.16 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, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 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 the consensus estimate of $406.75 million. As a group, equities research analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio is 12.22%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALG. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday. Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and raised their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.