Wasatch Advisors LP Reduces Stock Position in Alamo Group, Inc. $ALG

Wasatch Advisors LP lessened its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 301,041 shares of the industrial products company’s stock after selling 70,057 shares during the quarter. Wasatch Advisors LP owned about 2.47% of Alamo Group worth $49,518,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in Alamo Group by 136.2% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 177 shares during the period. Jones Financial Companies Lllp grew its position in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the period. Kestra Advisory Services LLC bought a new stake in Alamo Group in the 4th quarter worth approximately $76,000. State of Wyoming raised its stake in Alamo Group by 76.5% during the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock valued at $79,000 after buying an additional 205 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Alamo Group by 861.5% during the 4th quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company’s stock valued at $84,000 after buying an additional 448 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Up 0.4%

ALG opened at $169.62 on Wednesday. The firm’s 50 day simple moving average is $161.81 and its two-hundred day simple moving average is $171.87. The company has a market capitalization of $2.06 billion, a PE ratio of 20.34, a PEG ratio of 1.00 and a beta of 1.10. Alamo Group, Inc. has a 1-year low of $145.76 and a 1-year high of $233.29. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. As a group, equities analysts forecast that Alamo Group, Inc. will post 10.56 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group’s payout ratio is currently 16.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ALG shares. DA Davidson restated a “neutral” rating and issued a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Alamo Group has an average rating of “Moderate Buy” and a consensus price target of $188.00.

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.