25,133 Shares in Alamo Group, Inc. $ALG Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,133 shares of the industrial products company’s stock, valued at approximately $4,134,000. Legal & General Group Plc owned 0.21% of Alamo Group at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Alamo Group during the 2nd quarter worth $288,972,000. Wasatch Advisors LP acquired a new position in Alamo Group during the second quarter valued at approximately $51,427,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 53.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 358,435 shares of the industrial products company’s stock worth $59,131,000 after purchasing an additional 124,845 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Alamo Group by 189.3% during the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock valued at $29,936,000 after purchasing an additional 118,737 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Alamo Group by 239.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock valued at $26,404,000 after buying an additional 110,941 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alamo Group in a research report on Friday, August 21st. DA Davidson reissued a “neutral” rating and issued a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.00.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $173.32 on Friday. The company has a market cap of $2.11 billion, a PE ratio of 20.78, a P/E/G ratio of 1.02 and a beta of 1.09. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $219.88. The firm has a 50-day simple moving average of $164.83 and a 200 day simple moving average of $167.66. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $450.73 million for the quarter, compared to analysts’ expectations of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. On average, sell-side analysts anticipate that Alamo Group, Inc. will post 10.56 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 16.31%.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 2,715 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the completion of the transaction, the executive vice president owned 8,142 shares of the company’s stock, valued at approximately $1,338,626.22. The trade was a 25.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.06% of the company’s stock.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.