Alamo Group, Inc. $ALG Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 81.2% during the fourth quarter, Holdings Channel reports. The fund owned 8,258 shares of the industrial products company’s stock after purchasing an additional 3,701 shares during the quarter. Legato Capital Management LLC’s holdings in Alamo Group were worth $1,386,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC acquired a new stake in shares of Alamo Group during the third quarter valued at $3,324,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group by 9.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock valued at $113,562,000 after acquiring an additional 57,456 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Alamo Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock valued at $149,997,000 after acquiring an additional 9,571 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Alamo Group by 18.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 42,083 shares of the industrial products company’s stock worth $8,034,000 after buying an additional 6,675 shares during the last quarter. Finally, UBS Group AG boosted its stake in Alamo Group by 26.7% in the 4th quarter. UBS Group AG now owns 58,708 shares of the industrial products company’s stock worth $9,855,000 after buying an additional 12,361 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ALG. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. DA Davidson decreased their price target on Alamo Group from $190.00 to $188.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, William Blair began coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alamo Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Alamo Group Stock Up 0.1%

Shares of NYSE:ALG opened at $150.24 on Monday. The stock’s 50-day moving average price is $165.92 and its two-hundred day moving average price is $176.64. The company has a current ratio of 4.32, a quick ratio of 2.45 and a debt-to-equity ratio of 0.23. Alamo Group, Inc. has a 12-month low of $145.76 and a 12-month high of $233.29. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.88 and a beta of 1.17.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The firm had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. On average, research analysts forecast that Alamo Group, Inc. will post 10.61 EPS for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, April 15th. Alamo Group’s dividend payout ratio (DPR) is 16.27%.

Insider Transactions at Alamo Group

In other news, Director Nina C. Grooms sold 499 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the transaction, the director directly owned 2,844 shares in the company, valued at $498,240.36. This trade represents a 14.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Paul Hureau acquired 460 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average price of $164.40 per share, for a total transaction of $75,624.00. Following the completion of the acquisition, the chief executive officer owned 12,506 shares in the company, valued at approximately $2,055,986.40. This trade represents a 3.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.06% of the company’s stock.

Alamo Group Company 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.