Virtu Financial LLC Acquires New Shares 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 acquired a new stake in Alamo Group, Inc. (NYSE:ALG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,673 shares of the industrial products company's stock, valued at approximately $298,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Alamo Group by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company's stock valued at $137,039,000 after purchasing an additional 47,819 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 4.0% in the 1st 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 period. Victory Capital Management Inc. grew its stake in shares of Alamo Group by 12.9% in the 1st 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 period. Westwood Holdings Group Inc. grew its stake in shares of Alamo Group by 22.9% in the 1st 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 period. Finally, Ninepoint Partners LP bought a new stake in shares of Alamo Group in the 1st quarter valued at approximately $40,988,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Down 1.0%

Shares of ALG stock traded down $2.1120 during trading hours on Thursday, reaching $212.2980. The company had a trading volume of 81,784 shares, compared to its average volume of 83,822. The company has a 50 day moving average of $220.33 and a 200 day moving average of $196.86. 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 firm has a market cap of $2.57 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 1.12 and a beta of 1.10. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last posted 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). The company had revenue of $419.07 million during the quarter, compared to analyst estimates 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 anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. Alamo Group's dividend payout ratio is 12.22%.

Analyst Ratings Changes

ALG has been the topic of several recent analyst reports. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $209.00 to $260.00 in a report on Monday, August 4th. DA Davidson reissued a "neutral" rating and issued a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $234.00.

About Alamo Group

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.