Vest Financial LLC Grows Stock Holdings in Alamo Group, Inc. $ALG

Vest Financial LLC grew its holdings in Alamo Group, Inc. (NYSE:ALG) by 65.4% during the 2nd quarter, Holdings Channel reports. The fund owned 22,526 shares of the industrial products company’s stock after purchasing an additional 8,910 shares during the period. Vest Financial LLC’s holdings in Alamo Group were worth $4,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Alamo Group by 110.6% in the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 125 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after buying an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Alamo Group by 31.6% during the first quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock worth $49,000 after buying an additional 65 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after buying an additional 314 shares in the last quarter. Finally, CWM LLC boosted its holdings in Alamo Group by 520.9% during the first quarter. CWM LLC now owns 981 shares of the industrial products company’s stock worth $175,000 after buying an additional 823 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Price Performance

Shares of NYSE ALG opened at $181.80 on Tuesday. The firm has a 50-day simple moving average of $206.90 and a 200-day simple moving average of $201.33. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 0.95 and a beta of 1.08. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. Alamo Group, Inc. has a 52 week low of $157.07 and a 52 week high of $233.29.

Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). The business had revenue of $419.07 million during the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. On average, equities analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, October 15th. Alamo Group’s dividend payout ratio is 12.22%.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $222.19, for a total value of $555,475.00. Following the completion of the sale, the chief executive officer directly owned 38,413 shares in the company, valued at $8,534,984.47. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALG. Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alamo Group in a report on Wednesday, October 8th. Robert W. Baird upgraded shares of Alamo Group from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $209.00 to $260.00 in a research report on Monday, August 4th. Wall Street Zen raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Alamo Group in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $234.00.

Alamo Group Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.