Alamo Group, Inc. (ALG) Position Maintained by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY held its stake in shares of Alamo Group, Inc. (NYSE:ALG) during the first quarter, Holdings Channel reports. The institutional investor owned 6,704 shares of the industrial products company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Alamo Group were worth $511,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of Alamo Group by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 56,465 shares of the industrial products company’s stock valued at $4,302,000 after buying an additional 4,340 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Alamo Group during the first quarter valued at $430,000. Swiss National Bank increased its stake in shares of Alamo Group by 4.6% in the first quarter. Swiss National Bank now owns 16,000 shares of the industrial products company’s stock valued at $1,219,000 after buying an additional 700 shares during the last quarter. Comerica Bank increased its stake in shares of Alamo Group by 3.8% in the first quarter. Comerica Bank now owns 10,418 shares of the industrial products company’s stock valued at $832,000 after buying an additional 380 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock valued at $130,000 after buying an additional 156 shares during the last quarter. 88.98% of the stock is owned by institutional investors.
Alamo Group, Inc. (ALG) traded down 0.37% on Friday, hitting $91.18. The company had a trading volume of 33,270 shares. The stock has a market cap of $1.06 billion, a P/E ratio of 23.44 and a beta of 0.95. Alamo Group, Inc. has a 12-month low of $58.30 and a 12-month high of $95.62. The firm’s 50 day moving average price is $92.34 and its 200 day moving average price is $82.76.
Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.05. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. The business had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Equities analysts predict that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 17th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Thursday, July 13th. Alamo Group’s payout ratio is presently 10.28%.
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Several brokerages have recently weighed in on ALG. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Tuesday. BidaskClub downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $90.00 target price on shares of Alamo Group in a research report on Friday, July 14th. Finally, Seaport Global Securities upped their target price on Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th.
In other Alamo Group news, Director David W. Grzelak sold 2,201 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now owns 1,325 shares in the company, valued at $122,138.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dan Edward Malone sold 950 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $90.75, for a total transaction of $86,212.50. Following the transaction, the vice president now owns 11,950 shares of the company’s stock, valued at approximately $1,084,462.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,335 shares of company stock valued at $305,830. 3.99% of the stock is owned by corporate insiders.
About Alamo Group
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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