Alamo Group, Inc. $ALG Shares Newly Acquired by Investment Partners LTD.

Investment Partners LTD. acquired a new position in Alamo Group, Inc. (NYSE:ALG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,457 shares of the industrial products company’s stock, valued at approximately $1,154,000. Investment Partners LTD. owned 0.06% of Alamo Group as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Value Holdings Management CO. LLC bought a new stake in shares of Alamo Group during the second quarter worth approximately $2,467,000. Man Group plc acquired a new position in Alamo Group during the 2nd quarter worth approximately $2,299,000. Bank of New York Mellon Corp bought a new stake in shares of Alamo Group in the 2nd quarter worth $9,803,000. Janus Henderson Group PLC grew its position in shares of Alamo Group by 13.8% during the 1st quarter. Janus Henderson Group PLC now owns 167,983 shares of the industrial products company’s stock valued at $27,713,000 after acquiring an additional 20,410 shares during the period. Finally, Neumeier Poma Investment Counsel LLC purchased a new stake in Alamo Group during the 2nd quarter worth about $13,404,290. Institutional investors own 92.36% of the company’s stock.

Insider Activity

In other news, EVP Edward Rizzuti sold 2,537 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $174.68, for a total value of $443,163.16. Following the sale, the executive vice president owned 5,605 shares in the company, valued at approximately $979,081.40. The trade was a 31.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. One 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. Based on data from MarketBeat.com, Alamo Group currently has an average rating of “Moderate Buy” and an average price target of $188.00.

Alamo Group Stock Up 0.8%

Shares of NYSE:ALG opened at $147.88 on Friday. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.80 billion, a P/E ratio of 17.73, a PEG ratio of 0.88 and a beta of 1.08. The business has a fifty day moving average of $159.56 and a two-hundred day moving average of $169.04. Alamo Group, Inc. has a 52-week low of $142.84 and a 52-week high of $219.88.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $437.48 million. On average, research analysts expect that Alamo Group, Inc. will post 10.52 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Thursday, October 15th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, October 15th. Alamo Group’s dividend payout ratio (DPR) is presently 16.31%.

Alamo Group Profile

Alamo Group Inc (NYSE: ALG) manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company’s product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.