Man Group plc Purchases Shares of 13,974 Alamo Group, Inc. $ALG

Man Group plc purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the second quarter, Holdings Channel.com reports. The firm purchased 13,974 shares of the industrial products company’s stock, valued at approximately $2,299,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Natixis Advisors LLC lifted its stake in Alamo Group by 209.0% during the fourth quarter. Natixis Advisors LLC now owns 49,217 shares of the industrial products company’s stock worth $8,262,000 after purchasing an additional 33,291 shares during the last quarter. Vanguard Group Inc. increased its stake in Alamo Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock valued at $134,000,000 after purchasing an additional 12,499 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Alamo Group by 13.8% during the first quarter. Janus Henderson Group PLC now owns 167,983 shares of the industrial products company’s stock worth $27,713,000 after purchasing an additional 20,410 shares in the last quarter. Sei Investments Co. lifted its position in shares of Alamo Group by 47.3% during the 1st quarter. Sei Investments Co. now owns 49,937 shares of the industrial products company’s stock worth $8,236,000 after buying an additional 16,034 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Alamo Group by 26.7% in the 4th quarter. UBS Group AG now owns 58,708 shares of the industrial products company’s stock valued at $9,855,000 after buying an additional 12,361 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Trading Down 0.6%

Shares of ALG stock opened at $163.64 on Wednesday. The company has a market capitalization of $1.99 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The company has a current ratio of 4.39, a quick ratio of 2.48 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $164.52 and its two-hundred day moving average is $168.16. Alamo Group, Inc. has a twelve month low of $145.76 and a twelve month high of $219.88.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%.The business had revenue of $450.73 million during the quarter, compared to analysts’ expectations of $437.48 million. Equities analysts forecast that Alamo Group, Inc. will post 10.56 EPS for the current year.

Alamo Group Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on ALG. 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 reaffirmed a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $188.00.

Insider Buying and Selling

In other news, EVP Edward Rizzuti sold 2,715 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the sale, the executive vice president owned 8,142 shares in the company, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

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.