Kalos Management Inc. Acquires Shares of 3,619 Alamo Group, Inc. (ALG)
Kalos Management Inc. acquired a new stake in shares of Alamo Group, Inc. (NYSE:ALG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,619 shares of the industrial products company’s stock, valued at approximately $388,000.
A number of other large investors have also recently added to or reduced their stakes in ALG. Acrospire Investment Management LLC grew its stake in shares of Alamo Group by 150.1% in the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 704 shares during the period. SG Americas Securities LLC bought a new stake in shares of Alamo Group in the third quarter worth approximately $111,000. Pinebridge Investments L.P. grew its stake in shares of Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 17 shares during the period. King Luther Capital Management Corp bought a new stake in shares of Alamo Group in the second quarter worth approximately $210,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Alamo Group in the third quarter worth approximately $210,000. Institutional investors and hedge funds own 92.46% of the company’s stock.
Alamo Group, Inc. (NYSE ALG) opened at $112.75 on Tuesday. The company has a quick ratio of 2.85, a current ratio of 4.48 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1,321.21, a P/E ratio of 26.35 and a beta of 0.96. Alamo Group, Inc. has a 1-year low of $70.53 and a 1-year high of $119.58.
Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.16. The company had revenue of $240.46 million for the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. analysts expect that Alamo Group, Inc. will post 4.49 EPS for the current year.
In other Alamo Group news, EVP Richard Hodges Raborn sold 2,000 shares of Alamo Group stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $223,060.00. Following the transaction, the executive vice president now owns 4,500 shares of the company’s stock, valued at $501,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $392,640.00. Following the transaction, the vice president now directly owns 3,800 shares in the company, valued at approximately $373,008. The disclosure for this sale can be found here. Company insiders own 3.99% of the company’s stock.
A number of analysts have recently commented on ALG shares. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Wednesday, September 6th. ValuEngine downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies set a $104.00 price objective on shares of Alamo Group and gave the stock a “buy” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Alamo Group currently has an average rating of “Hold” and a consensus price target of $105.00.
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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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