Assenagon Asset Management S.A. Reduces Position in Alamo Group, Inc. $ALG

Assenagon Asset Management S.A. trimmed its holdings in Alamo Group, Inc. (NYSE:ALG) by 82.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,878 shares of the industrial products company’s stock after selling 33,046 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of Alamo Group worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALG. Wasatch Advisors LP acquired a new stake in Alamo Group during the second quarter worth about $51,427,000. Tributary Capital Management LLC boosted its stake in Alamo Group by 92.5% in the third quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock valued at $38,895,000 after acquiring an additional 97,898 shares during the period. First Trust Advisors LP boosted its stake in Alamo Group by 28.6% in the second quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company’s stock valued at $83,899,000 after acquiring an additional 85,478 shares during the period. American Century Companies Inc. raised its position in shares of Alamo Group by 49.9% during the 3rd quarter. American Century Companies Inc. now owns 230,351 shares of the industrial products company’s stock worth $43,974,000 after purchasing an additional 76,631 shares during the period. Finally, River Road Asset Management LLC bought a new position in Alamo Group during the 2nd quarter worth $10,222,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alamo Group news, CEO Robert Paul Hureau bought 460 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average price of $164.40 per share, with a total value of $75,624.00. Following the completion of the transaction, the chief executive officer directly owned 12,506 shares in the company, valued at approximately $2,055,986.40. This represents a 3.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 600 shares of Alamo Group stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the transaction, the executive vice president owned 10,857 shares in the company, valued at $1,855,787.01. This represents a 5.24% decrease in their position. The SEC filing for this sale provides additional information. 1.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALG. William Blair assumed coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock. CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Friday. DA Davidson restated a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a research report on Monday, March 9th. Finally, Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $164.78 on Wednesday. The company has a market capitalization of $2.00 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 0.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.82 and a current ratio of 4.57. The stock has a fifty day moving average of $189.77 and a 200-day moving average of $182.60. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). The company had revenue of $373.65 million during the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a return on equity of 10.04% and a net margin of 6.47%. As a group, equities analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s payout ratio is 15.83%.

Alamo Group Company Profile

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.