Pictet Asset Management SA Acquires Shares of 1,336 Alamo Group Inc. (NYSE:ALG)

Pictet Asset Management SA acquired a new position in Alamo Group Inc. (NYSE:ALG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,336 shares of the industrial products company’s stock, valued at approximately $246,000.

Several other large investors also recently added to or reduced their stakes in ALG. Bank of New York Mellon Corp increased its holdings in Alamo Group by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 113,146 shares of the industrial products company’s stock worth $16,269,000 after acquiring an additional 1,193 shares during the last quarter. Citigroup Inc. increased its holdings in Alamo Group by 82.1% in the 1st quarter. Citigroup Inc. now owns 16,027 shares of the industrial products company’s stock worth $2,305,000 after acquiring an additional 7,226 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Alamo Group by 25.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,008 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 816 shares during the last quarter. Bank of Montreal Can increased its holdings in Alamo Group by 4.1% in the 1st quarter. Bank of Montreal Can now owns 4,296 shares of the industrial products company’s stock worth $640,000 after acquiring an additional 171 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Alamo Group in the 1st quarter worth about $1,136,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Alamo Group Stock Performance

Shares of ALG opened at $172.87 on Thursday. The company has a market cap of $2.08 billion, a PE ratio of 16.59 and a beta of 1.01. The company has a current ratio of 4.06, a quick ratio of 2.34 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $182.83 and a 200-day moving average price of $178.57. Alamo Group Inc. has a 12-month low of $118.73 and a 12-month high of $200.81.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). The business had revenue of $440.69 million for the quarter, compared to the consensus estimate of $455.00 million. Alamo Group had a net margin of 7.76% and a return on equity of 15.54%. As a group, equities analysts forecast that Alamo Group Inc. will post 11.15 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Tuesday, July 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.51%. Alamo Group’s payout ratio is 8.45%.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 583 shares of Alamo Group stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $172.81, for a total value of $100,748.23. Following the transaction, the chief executive officer now directly owns 29,363 shares of the company’s stock, valued at approximately $5,074,220.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard J. Wehrle sold 1,166 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $183.57, for a total transaction of $214,042.62. Following the transaction, the chief financial officer now directly owns 27,057 shares of the company’s stock, valued at $4,966,853.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffery Allen Leonard sold 583 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $172.81, for a total value of $100,748.23. Following the transaction, the chief executive officer now directly owns 29,363 shares in the company, valued at $5,074,220.03. The disclosure for this sale can be found here. Insiders sold 3,249 shares of company stock worth $588,211 in the last quarter. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on ALG shares. StockNews.com started coverage on Alamo Group in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Raymond James cut their target price on Alamo Group from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Finally, DA Davidson raised their target price on Alamo Group from $208.00 to $212.00 in a research note on Thursday, June 8th.

Alamo Group Profile

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.