Alamo Group, Inc. $ALG Shares Purchased by First Trust Advisors LP

First Trust Advisors LP boosted its position in shares of Alamo Group, Inc. (NYSE:ALG) by 5.4% during the first quarter, Holdings Channel.com reports. The firm owned 469,289 shares of the industrial products company’s stock after buying an additional 24,184 shares during the quarter. First Trust Advisors LP’s holdings in Alamo Group were worth $77,419,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its stake in shares of Alamo Group by 209.0% in the fourth quarter. Natixis Advisors LLC now owns 49,217 shares of the industrial products company’s stock valued at $8,262,000 after buying an additional 33,291 shares in the last quarter. UBS Group AG lifted its position in shares of Alamo Group by 26.7% during the fourth quarter. UBS Group AG now owns 58,708 shares of the industrial products company’s stock worth $9,855,000 after purchasing an additional 12,361 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 period. Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group by 9.4% in 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 purchasing an additional 57,456 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in shares of Alamo Group by 16.2% in the fourth quarter. Kennedy Capital Management LLC now owns 183,065 shares of the industrial products company’s stock valued at $30,731,000 after purchasing an additional 25,485 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Up 0.2%

ALG stock opened at $165.32 on Friday. The stock has a market capitalization of $2.01 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The company has a fifty day moving average of $158.62 and a 200-day moving average of $173.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. Alamo Group, Inc. has a one year low of $145.76 and a one year high of $233.29.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The business had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. As a group, analysts expect that Alamo Group, Inc. will post 10.65 EPS for the current year.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, July 16th. Alamo Group’s dividend payout ratio is 16.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. DA Davidson reissued a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a research report on Wednesday, July 1st. Finally, Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Alamo Group presently has an average rating of “Moderate Buy” and an average target price of $224.00.

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.