Pullen Investment Management LLC Invests $1.47 Million in Alamo Group, Inc. $ALG

Pullen Investment Management LLC purchased a new stake in Alamo Group, Inc. (NYSE:ALG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,931 shares of the industrial products company’s stock, valued at approximately $1,473,000. Pullen Investment Management LLC owned about 0.07% of Alamo Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC increased its holdings in Alamo Group by 136.2% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 314 shares in the last quarter. MAI Capital Management acquired a new stake in shares of Alamo Group during the third quarter valued at about $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Alamo Group during the second quarter worth about $87,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Alamo Group during the fourth quarter worth about $76,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 600 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president owned 10,857 shares of the company’s stock, valued at approximately $1,855,787.01. This represents a 5.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Alamo Group Stock Down 0.1%

Shares of ALG opened at $161.19 on Friday. The company has a market capitalization of $1.96 billion, a PE ratio of 19.28, a PEG ratio of 0.95 and a beta of 1.11. Alamo Group, Inc. has a 12 month low of $145.76 and a 12 month high of $233.29. The stock’s 50-day moving average price is $159.95 and its two-hundred day moving average price is $174.96. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The firm had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million. On average, analysts anticipate that Alamo Group, Inc. will post 10.61 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio is presently 16.27%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALG shares. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. William Blair initiated coverage on shares of Alamo Group in a report on Monday, March 16th. They set an “outperform” rating on the stock. Finally, DA Davidson decreased their price target on shares of Alamo Group from $190.00 to $188.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

About Alamo Group

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.