Advisors Asset Management Inc. Grows Stake in Alamo Group Inc. (NYSE:ALG)

Advisors Asset Management Inc. grew its position in Alamo Group Inc. (NYSE:ALG) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,014 shares of the industrial products company’s stock after buying an additional 769 shares during the quarter. Advisors Asset Management Inc.’s holdings in Alamo Group were worth $1,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. raised its holdings in shares of Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares in the last quarter. Quest Partners LLC purchased a new position in Alamo Group during the 4th quarter valued at about $52,000. Bessemer Group Inc. raised its holdings in shares of Alamo Group by 1,885.7% in the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of Alamo Group in the 1st quarter worth approximately $82,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Alamo Group during the fourth quarter valued at approximately $208,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 1.5 %

Shares of Alamo Group stock opened at $194.96 on Friday. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.35 billion, a P/E ratio of 17.35 and a beta of 1.04. The firm’s 50 day moving average price is $180.50 and its 200-day moving average price is $198.55. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The business had revenue of $425.59 million for the quarter. During the same period in the prior year, the firm posted $2.79 earnings per share. On average, sell-side analysts predict that Alamo Group Inc. will post 12.3 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date is Tuesday, July 16th. Alamo Group’s dividend payout ratio is currently 9.25%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson reduced their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th.

Alamo Group Company 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.