Deutsche Bank AG Makes New Investment in Alamo Group, Inc. $ALG

Deutsche Bank AG acquired a new position in Alamo Group, Inc. (NYSE:ALG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,132 shares of the industrial products company’s stock, valued at approximately $1,831,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Alamo Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock valued at $1,084,000 after buying an additional 251 shares in the last quarter. Millennium Management LLC raised its stake in shares of Alamo Group by 164.7% during the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after acquiring an additional 39,564 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alamo Group by 12.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock worth $6,444,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Alamo Group by 83.7% during the 2nd quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock worth $16,899,000 after purchasing an additional 35,248 shares during the period. 92.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALG shares. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Alamo Group in a research note on Friday, August 21st. Finally, DA Davidson reiterated a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Alamo Group presently has an average rating of “Moderate Buy” and an average target price of $188.00.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president directly owned 8,142 shares in the company, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

Alamo Group Price Performance

Alamo Group stock opened at $165.09 on Friday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 19.79, a P/E/G ratio of 0.97 and a beta of 1.10. The company’s fifty day moving average price is $164.36 and its 200 day moving average price is $169.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. Alamo Group, Inc. has a 1 year low of $145.76 and a 1 year high of $219.88.

Alamo Group (NYSE:ALG) last announced 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. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The firm had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. As a group, equities research analysts anticipate that Alamo Group, Inc. will post 10.56 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were paid 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 dividend payout ratio is presently 16.31%.

Alamo Group 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.