Magnetar Financial LLC Takes $319,000 Position in Alamo Group, Inc. $ALG

Magnetar Financial LLC bought a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 1,790 shares of the industrial products company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parallel Advisors LLC increased its holdings in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 125 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 65 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Alamo Group during the 4th quarter worth about $79,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $234.00.

Insider Transactions at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total value of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares of the company’s stock, valued at $8,534,984.47. This represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

Alamo Group Trading Down 1.8%

Shares of ALG opened at $211.07 on Tuesday. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The firm has a market capitalization of $2.56 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.10 and a beta of 1.10. The firm has a 50-day moving average price of $220.52 and a 200 day moving average price of $198.59. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The firm had revenue of $419.07 million during 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%. Sell-side analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

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

Alamo Group Company Profile

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.