Alamo Group, Inc. $ALG is Tributary Capital Management LLC’s 8th Largest Position

Tributary Capital Management LLC lessened its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,844 shares of the industrial products company’s stock after selling 7,983 shares during the period. Alamo Group comprises approximately 2.0% of Tributary Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Tributary Capital Management LLC’s holdings in Alamo Group were worth $23,114,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Alamo Group by 6.6% in the first quarter. Vanguard Group Inc. now owns 768,973 shares of the industrial products company’s stock valued at $137,039,000 after purchasing an additional 47,819 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alamo Group by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company’s stock valued at $125,732,000 after purchasing an additional 26,835 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Alamo Group by 12.9% in the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company’s stock valued at $90,320,000 after purchasing an additional 58,097 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Alamo Group by 22.9% in the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company’s stock valued at $71,437,000 after purchasing an additional 74,679 shares during the period. Finally, Ninepoint Partners LP purchased a new stake in Alamo Group during the first quarter worth $40,988,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alamo Group Stock Performance

Shares of ALG stock opened at $186.83 on Thursday. The business’s fifty day simple moving average is $201.13 and its 200-day simple moving average is $201.40. The company has a market cap of $2.26 billion, a PE ratio of 19.02, a PEG ratio of 0.97 and a beta of 1.08. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29.

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

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is currently 12.22%.

Insiders Place Their Bets

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer directly owned 38,413 shares of the company’s stock, valued at approximately $8,534,984.47. This trade represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

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.