Walleye Capital LLC Takes $344,000 Position in Alamo Group, Inc. $ALG

Key Points

• Walleye Capital LLC has acquired a new stake in Alamo Group, purchasing 1,928 shares valued at approximately $344,000 during the first quarter.
• Analysts have mixed ratings for Alamo Group, with Robert W. Baird upgrading the stock to an "outperform" rating and raising the target price from $209.00 to $260.00.
• CEO Jeffery Allen Leonard sold 2,500 shares at an average price of $222.19, indicating a 6.11% decrease in ownership following the transaction.

Walleye Capital LLC acquired a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,928 shares of the industrial products company's stock, valued at approximately $344,000.

Several other hedge funds also recently made changes to their positions in ALG. Parallel Advisors LLC boosted its holdings in shares of Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC grew its position in 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 acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 valued at $47,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Alamo Group during the fourth quarter valued at $79,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the completion of the sale, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This represents a 6.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALG has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday. DA Davidson restated 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. Finally, Robert W. Baird upgraded shares of Alamo Group from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $209.00 to $260.00 in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $234.00.

Alamo Group Stock Performance

Alamo Group stock traded up $2.93 during mid-day trading on Monday, reaching $212.15. 34,709 shares of the stock traded hands, compared to its average volume of 108,602. 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 business's 50-day moving average is $219.83 and its 200-day moving average is $199.19. The stock has a market capitalization of $2.57 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-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 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The firm had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a yield of 0.6%. Alamo Group's dividend payout ratio is 12.22%.

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.