Investment Partners LTD. Makes New $1.15 Million Investment in Alamo Group, Inc. $ALG

Investment Partners LTD. purchased a new position in Alamo Group, Inc. (NYSE:ALG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,457 shares of the industrial products company’s stock, valued at approximately $1,154,000.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Alamo Group in the second quarter worth approximately $288,972,000. Dimensional Fund Advisors LP boosted its stake in Alamo Group by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 527,399 shares of the industrial products company’s stock worth $87,006,000 after purchasing an additional 27,597 shares during the period. First Trust Advisors LP boosted its stake in Alamo Group by 5.4% during the first quarter. First Trust Advisors LP now owns 469,289 shares of the industrial products company’s stock valued at $77,419,000 after buying an additional 24,184 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Alamo Group by 189.3% in the 1st quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock worth $29,936,000 after buying an additional 118,737 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in Alamo Group in the second quarter worth $28,617,000. Institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Alamo Group currently has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 2,537 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $174.68, for a total transaction of $443,163.16. Following the transaction, the executive vice president owned 5,605 shares of the company’s stock, valued at $979,081.40. This trade represents a 31.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Alamo Group Stock Up 0.8%

Shares of NYSE ALG opened at $147.88 on Friday. Alamo Group, Inc. has a 1 year low of $142.84 and a 1 year high of $219.88. The company has a market capitalization of $1.80 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.88 and a beta of 1.08. The company has a 50 day simple moving average of $159.56 and a 200-day simple moving average of $169.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48.

Alamo Group (NYSE:ALG) last posted 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. 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%. On average, equities research analysts predict that Alamo Group, Inc. will post 10.52 earnings per share for the current year.

Alamo Group Dividend Announcement

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

Alamo Group Company 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.