AlphaCore Capital LLC Takes $773,000 Position in Alamo Group, Inc. $ALG

AlphaCore Capital LLC purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,050 shares of the industrial products company’s stock, valued at approximately $773,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALG. Vanguard Group Inc. lifted its stake in Alamo Group by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock valued at $149,997,000 after purchasing an additional 9,571 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Alamo Group by 28.6% during the second quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company’s stock worth $83,899,000 after buying an additional 85,478 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Alamo Group by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 243,470 shares of the industrial products company’s stock valued at $53,176,000 after acquiring an additional 4,927 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of Alamo Group during the 2nd quarter valued at $51,427,000. Finally, Tributary Capital Management LLC grew its position in Alamo Group by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock worth $38,895,000 after acquiring an additional 97,898 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ALG. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Finally, DA Davidson reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.33.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $213.51 on Friday. Alamo Group, Inc. has a twelve month low of $156.29 and a twelve month high of $233.29. The stock’s 50 day moving average is $193.64 and its 200-day moving average is $189.73. The company has a quick ratio of 2.72, a current ratio of 4.43 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.21 and a beta of 1.13.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were issued a $0.34 dividend. The ex-dividend date was Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio (DPR) is currently 14.11%.

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.