Alamo Group, Inc. $ALG Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 9,698.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,133 shares of the industrial products company’s stock after acquiring an additional 8,050 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Alamo Group worth $1,342,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its stake in shares of Alamo Group by 0.4% in the 3rd quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock worth $3,040,000 after acquiring an additional 61 shares during the period. State of Alaska Department of Revenue raised its holdings in Alamo Group by 1.7% during the fourth quarter. State of Alaska Department of Revenue now owns 6,250 shares of the industrial products company’s stock worth $1,048,000 after purchasing an additional 106 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alamo Group by 0.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock worth $4,192,000 after purchasing an additional 117 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Alamo Group by 1.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,744 shares of the industrial products company’s stock worth $1,472,000 after purchasing an additional 130 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Alamo Group by 7.5% in the fourth quarter. Advisors Asset Management Inc. now owns 1,935 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Stock Up 0.2%

Shares of NYSE ALG opened at $165.32 on Friday. Alamo Group, Inc. has a 52-week low of $145.76 and a 52-week high of $233.29. The stock has a market cap of $2.01 billion, a PE ratio of 19.78, a PEG ratio of 0.97 and a beta of 1.09. The business has a fifty day moving average of $158.62 and a two-hundred day moving average of $173.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.36. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. The company had revenue of $417.15 million during the quarter, compared to analyst estimates of $398.02 million. As a group, equities research analysts expect that Alamo Group, Inc. will post 10.65 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio is presently 16.27%.

Analysts Set New Price Targets

ALG has been the subject of a number of recent research reports. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alamo Group presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

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.