Russell Investments Group Ltd. Boosts Position in Alamo Group, Inc. $ALG

Russell Investments Group Ltd. lifted its stake in Alamo Group, Inc. (NYSE:ALG) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,019 shares of the industrial products company’s stock after purchasing an additional 446 shares during the period. Russell Investments Group Ltd. owned 0.06% of Alamo Group worth $1,251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ninepoint Partners LP bought a new stake in shares of Alamo Group during the 1st quarter valued at $40,988,000. Bank of America Corp DE increased its stake in Alamo Group by 826.1% in the 4th quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company’s stock worth $24,260,000 after buying an additional 116,404 shares in the last quarter. SG Capital Management LLC bought a new stake in Alamo Group during the fourth quarter valued at about $16,971,000. Ameriprise Financial Inc. raised its holdings in Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock valued at $21,539,000 after acquiring an additional 89,430 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in Alamo Group by 22.9% during the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company’s stock valued at $71,437,000 after acquiring an additional 74,679 shares during the period. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson reissued a “neutral” rating and set a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a report on Sunday, August 24th. Finally, Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and raised their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $234.00.

Insider Buying and Selling

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares in the company, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Alamo Group Trading Down 1.2%

Shares of Alamo Group stock opened at $214.82 on Friday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.14 and a beta of 1.10. The business has a 50-day moving average price of $220.61 and a 200-day moving average price of $198.05. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $233.29.

Alamo Group (NYSE:ALG) last issued 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). The firm had revenue of $419.07 million for the quarter, compared to analysts’ expectations of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. Equities research analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were given a $0.30 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a yield of 0.6%. Alamo Group’s dividend payout ratio (DPR) is currently 12.22%.

About Alamo Group

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.