Alamo Group, Inc. (ALG) Holdings Increased by Chicago Equity Partners LLC
Chicago Equity Partners LLC grew its holdings in Alamo Group, Inc. (NYSE:ALG) by 120.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,920 shares of the industrial products company’s stock after purchasing an additional 10,320 shares during the period. Chicago Equity Partners LLC owned about 0.16% of Alamo Group worth $2,031,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in ALG. BlackRock Inc. increased its stake in Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock worth $97,174,000 after purchasing an additional 1,167,004 shares during the period. Vanguard Group Inc. increased its stake in Alamo Group by 9.0% in the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after purchasing an additional 41,187 shares during the period. Ameriprise Financial Inc. increased its stake in Alamo Group by 69.9% in the second quarter. Ameriprise Financial Inc. now owns 95,920 shares of the industrial products company’s stock worth $8,711,000 after purchasing an additional 39,455 shares during the period. Prudential Financial Inc. increased its stake in Alamo Group by 80.9% in the second quarter. Prudential Financial Inc. now owns 62,659 shares of the industrial products company’s stock worth $5,690,000 after purchasing an additional 28,030 shares during the period. Finally, Zacks Investment Management increased its stake in shares of Alamo Group by 874.4% during the second quarter. Zacks Investment Management now owns 29,981 shares of the industrial products company’s stock valued at $2,723,000 after buying an additional 26,904 shares during the period. Institutional investors and hedge funds own 87.73% of the company’s stock.
Alamo Group, Inc. (ALG) opened at $112.08 on Monday. Alamo Group, Inc. has a 12 month low of $70.53 and a 12 month high of $114.57. The stock has a market capitalization of $1,303.76, a PE ratio of 26.00 and a beta of 0.94. The company has a quick ratio of 2.85, a current ratio of 4.48 and a debt-to-equity ratio of 0.28.
Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.16. Alamo Group had a return on equity of 12.11% and a net margin of 5.56%. The firm had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $223.40 million. research analysts anticipate that Alamo Group, Inc. will post 4.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 16th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, October 13th. Alamo Group’s payout ratio is 9.59%.
In related news, EVP Richard Hodges Raborn sold 364 shares of Alamo Group stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the transaction, the executive vice president now directly owns 4,500 shares in the company, valued at $414,855. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Geoff Davies sold 4,000 shares of Alamo Group stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the transaction, the vice president now owns 3,800 shares of the company’s stock, valued at $373,008. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,364 shares of company stock valued at $649,257. Company insiders own 3.99% of the company’s stock.
ALG has been the topic of several research reports. Zacks Investment Research upgraded Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Tuesday, August 8th. BidaskClub lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. ValuEngine lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies set a $104.00 price target on Alamo Group and gave the company a “buy” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Alamo Group has a consensus rating of “Hold” and an average target price of $105.00.
Alamo Group Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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