Wasatch Advisors LP Lowers Stake in Alamo Group, Inc. $ALG

Wasatch Advisors LP reduced its position in Alamo Group, Inc. (NYSE:ALG) by 18.9% in the second quarter, HoldingsChannel.com reports. The firm owned 301,041 shares of the industrial products company’s stock after selling 70,057 shares during the period. Wasatch Advisors LP’s holdings in Alamo Group were worth $49,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALG. Argent Capital Management LLC lifted its stake in shares of Alamo Group by 55.7% during the 1st quarter. Argent Capital Management LLC now owns 6,275 shares of the industrial products company’s stock valued at $1,035,000 after buying an additional 2,244 shares in the last quarter. Bank of America Corp DE boosted its holdings in Alamo Group by 0.3% in the 1st quarter. Bank of America Corp DE now owns 110,270 shares of the industrial products company’s stock worth $18,191,000 after buying an additional 349 shares during the period. Edgestream Partners L.P. purchased a new stake in Alamo Group in the 1st quarter worth $840,000. Janus Henderson Group PLC increased its stake in Alamo Group by 13.8% in the 1st quarter. Janus Henderson Group PLC now owns 167,983 shares of the industrial products company’s stock worth $27,713,000 after buying an additional 20,410 shares in the last quarter. Finally, Amundi raised its holdings in Alamo Group by 78.6% during the first quarter. Amundi now owns 3,338 shares of the industrial products company’s stock valued at $551,000 after acquiring an additional 1,469 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Performance

Shares of NYSE ALG opened at $169.62 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. The company has a market cap of $2.06 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.00 and a beta of 1.10. The firm’s fifty day moving average is $161.81 and its two-hundred day moving average is $171.87. Alamo Group, Inc. has a 52-week low of $145.76 and a 52-week high of $233.29.

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

Alamo Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ALG shares. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 price objective on shares of Alamo Group in a research note on Wednesday, July 1st. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.00.

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.