Nuveen LLC Makes New $8.36 Million Investment in Alamo Group, Inc. $ALG

Nuveen LLC purchased a new position in Alamo Group, Inc. (NYSE:ALG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,916 shares of the industrial products company’s stock, valued at approximately $8,361,000. Nuveen LLC owned 0.39% of Alamo Group at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 72 shares during the period. GAMMA Investing LLC increased its position in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 125 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 61 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Alamo Group in the fourth quarter worth $79,000. Finally, CWM LLC increased its position in Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 823 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALG shares. Baird R W upgraded shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. DA Davidson reiterated a “neutral” rating and set a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $234.00.

Alamo Group Stock Up 4.3%

Shares of ALG opened at $221.83 on Friday. The firm has a market capitalization of $2.69 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.16 and a beta of 1.10. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $220.52 and a 200-day moving average price of $197.24.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The business had revenue of $419.07 million during the quarter, compared to analysts’ expectations of $406.75 million. Equities research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. Alamo Group’s dividend payout ratio is 12.22%.

Alamo Group Company 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.