Vest Financial LLC Buys 8,910 Shares of Alamo Group, Inc. $ALG

Vest Financial LLC boosted its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 65.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,526 shares of the industrial products company’s stock after buying an additional 8,910 shares during the quarter. Vest Financial LLC owned approximately 0.19% of Alamo Group worth $4,919,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after buying an additional 61 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 65 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Alamo Group by 4.1% in the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company’s stock valued at $448,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Alamo Group by 110.6% in the 1st 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 in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in shares of Alamo Group by 3.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,371 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. DA Davidson restated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W upgraded shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Alamo Group in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $234.00.

Alamo Group Trading Down 0.4%

NYSE ALG opened at $181.80 on Tuesday. The firm has a market cap of $2.20 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08. Alamo Group, Inc. has a 52 week low of $157.07 and a 52 week high of $233.29. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $206.90 and a 200 day moving average price of $201.33.

Alamo Group (NYSE:ALG) last released its 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 company had revenue of $419.07 million for the quarter, compared to analysts’ expectations of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. As a group, sell-side analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Alamo Group’s payout ratio is currently 12.22%.

Insiders Place Their Bets

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company’s stock, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.18% of the company’s stock.

Alamo Group 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.