Assenagon Asset Management S.A. Lowers Holdings in Alamo Group, Inc. $ALG

Assenagon Asset Management S.A. lowered its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 54.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,924 shares of the industrial products company’s stock after selling 47,618 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Alamo Group worth $7,621,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ALG. Invesco Ltd. grew its holdings in Alamo Group by 3.9% during the 1st quarter. Invesco Ltd. now owns 42,137 shares of the industrial products company’s stock valued at $7,509,000 after buying an additional 1,599 shares in the last quarter. Nuveen LLC purchased a new position in shares of Alamo Group in the first quarter worth $8,361,000. Russell Investments Group Ltd. boosted its position in shares of Alamo Group by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 7,019 shares of the industrial products company’s stock worth $1,251,000 after acquiring an additional 446 shares during the last quarter. American Century Companies Inc. grew its stake in Alamo Group by 266.2% during the first quarter. American Century Companies Inc. now owns 50,969 shares of the industrial products company’s stock valued at $9,083,000 after acquiring an additional 37,051 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in Alamo Group by 39.8% during the first quarter. Cresset Asset Management LLC now owns 1,610 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 458 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alamo Group

In other news, CEO Robert Paul Hureau acquired 304 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was bought at an average cost of $163.48 per share, with a total value of $49,697.92. Following the completion of the purchase, the chief executive officer directly owned 12,046 shares of the company’s stock, valued at $1,969,280.08. This represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 1,058 shares of company stock valued at $175,209 in the last ninety days. 1.18% of the stock is owned by company insiders.

Alamo Group Stock Up 0.9%

Shares of NYSE:ALG opened at $173.99 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.13 and a beta of 1.13. Alamo Group, Inc. has a 12 month low of $156.29 and a 12 month high of $233.29. The company has a current ratio of 4.43, a quick ratio of 2.72 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $171.88 and a 200 day moving average price of $198.20.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Thursday, November 6th. The industrial products company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($0.27). The company had revenue of $420.04 million for the quarter, compared to the consensus estimate of $407.55 million. Alamo Group had a return on equity of 11.11% and a net margin of 7.20%. As a group, equities research analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Investors of record on Wednesday, October 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, October 15th. Alamo Group’s dividend payout ratio is presently 12.45%.

Analyst Ratings Changes

Several analysts have commented on ALG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 15th. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. DA Davidson decreased their target price on Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.33.

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.