ProShare Advisors LLC raised its position in Alamo Group, Inc. (NYSE:ALG – Free Report) by 37.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,541 shares of the industrial products company’s stock after purchasing an additional 16,857 shares during the period. ProShare Advisors LLC’s holdings in Alamo Group were worth $9,525,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Vise Technologies Inc. acquired a new stake in Alamo Group in the 3rd quarter worth about $296,000. Investment Partners LTD. acquired a new position in Alamo Group during the third quarter valued at approximately $1,154,000. Pullen Investment Management LLC boosted its position in Alamo Group by 0.7% during the 3rd quarter. Pullen Investment Management LLC now owns 15,188 shares of the industrial products company’s stock worth $2,351,000 after purchasing an additional 100 shares during the period. Signaturefd LLC boosted its position in shares of Alamo Group by 181.8% in the third quarter. Signaturefd LLC now owns 341 shares of the industrial products company’s stock worth $53,000 after buying an additional 220 shares during the period. Finally, Evergreen Capital Management LLC boosted its holdings in Alamo Group by 7.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 4,232 shares of the industrial products company’s stock worth $655,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.
Insider Activity at Alamo Group
In other news, EVP Edward Rizzuti sold 2,537 shares of Alamo Group stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $174.68, for a total transaction of $443,163.16. Following the sale, the executive vice president owned 5,605 shares of the company’s stock, valued at approximately $979,081.40. The trade was a 31.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.
Alamo Group Stock Performance
Alamo Group stock opened at $149.07 on Wednesday. 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, Inc. has a 12 month low of $133.32 and a 12 month high of $219.88. The company has a fifty day moving average price of $159.02 and a two-hundred day moving average price of $168.66. The company has a market cap of $1.81 billion, a PE ratio of 16.71, a P/E/G ratio of 0.91 and a beta of 1.08.
Alamo Group (NYSE:ALG – Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The industrial products company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.56). The business had revenue of $403.14 million for the quarter, compared to analyst estimates of $437.11 million. Alamo Group had a return on equity of 9.47% and a net margin of 4.72%. Research analysts expect that Alamo Group, Inc. will post 10.52 earnings per share for the current year.
Alamo Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Thursday, October 15th were paid a $0.34 dividend. The ex-dividend date was Thursday, October 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is presently 21.22%.
Analyst Ratings Changes
Separately, Weiss Ratings cut shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.
Check Out Our Latest Stock Analysis on Alamo Group
Key Alamo Group News
Here are the key news stories impacting Alamo Group this week:
- Positive Sentiment: One valuation analysis argues ALG could be about 35% undervalued, citing the company’s U.K. roadway-work opportunity. This is an analyst view, not a company forecast. Alamo Group stock could be 35% undervalued
- Neutral Sentiment: Alamo acquired U.K. roadway-maintenance truck maker Econ Engineering for £120 million (about $158.7 million), adding to its industrial portfolio. The company outlined a net-leverage target of up to 2.5x following the acquisition; the deal offers growth potential but increases the importance of debt management. Alamo Group third-quarter results and acquisition Alamo outlines leverage target after Econ acquisition
- Negative Sentiment: Third-quarter adjusted EPS was $2.06, below analyst estimates of roughly $2.62–$2.65 and down from $2.34 a year earlier. Revenue of $403.1 million also missed expectations of about $437.1 million. Coverage pointed to soft end markets and restructuring as pressures on results, keeping earnings execution in focus. Alamo Group Q3 earnings and revenue miss estimates Q3 deep dive on end markets and restructuring
Alamo Group 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.
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