Chesapeake Capital Corp IL Takes $814,000 Position in Alamo Group Inc. (NYSE:ALG)

Chesapeake Capital Corp IL bought a new stake in shares of Alamo Group Inc. (NYSE:ALGFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,873 shares of the industrial products company’s stock, valued at approximately $814,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in Alamo Group by 12.2% in the 4th quarter. US Bancorp DE now owns 17,082 shares of the industrial products company’s stock worth $3,590,000 after purchasing an additional 1,863 shares in the last quarter. Quest Partners LLC purchased a new stake in Alamo Group in the fourth quarter worth about $52,000. Panagora Asset Management Inc. lifted its holdings in Alamo Group by 53.1% in the fourth quarter. Panagora Asset Management Inc. now owns 15,851 shares of the industrial products company’s stock worth $3,332,000 after buying an additional 5,498 shares during the period. FCA Corp TX bought a new stake in Alamo Group during the 4th quarter valued at approximately $210,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Alamo Group during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALG. DA Davidson lowered their target price on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

Check Out Our Latest Analysis on ALG

Alamo Group Stock Up 0.7 %

Shares of ALG stock traded up $1.36 during trading hours on Friday, hitting $192.13. 51,861 shares of the company’s stock traded hands, compared to its average volume of 67,158. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $205.97 and its two-hundred day simple moving average is $203.60. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 17.09 and a beta of 1.07.

Alamo Group (NYSE:ALGGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. The business had revenue of $425.59 million during the quarter. During the same quarter in the previous year, the firm posted $2.79 EPS. On average, analysts expect that Alamo Group Inc. will post 12.3 EPS for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Tuesday, April 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, April 15th. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Insider Buying and Selling at Alamo Group

In other news, EVP Michael A. Haberman sold 418 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total value of $93,577.66. Following the transaction, the executive vice president now owns 19,206 shares in the company, valued at $4,299,647.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

About Alamo Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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