Alamo Group, Inc. (ALG) Position Increased by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC increased its position in shares of Alamo Group, Inc. (NYSE:ALG) by 87.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,077 shares of the industrial products company’s stock after buying an additional 7,946 shares during the period. Parametric Portfolio Associates LLC owned 0.15% of Alamo Group worth $1,551,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALG. Acrospire Investment Management LLC boosted its holdings in Alamo Group by 150.1% during the second quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock worth $107,000 after buying an additional 704 shares in the last quarter. Pinebridge Investments L.P. raised its position in Alamo Group by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 17 shares during the period. State of Alaska Department of Revenue raised its position in Alamo Group by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 1,865 shares of the industrial products company’s stock worth $169,000 after acquiring an additional 825 shares during the period. King Luther Capital Management Corp acquired a new position in Alamo Group during the second quarter worth $210,000. Finally, BNP Paribas Arbitrage SA raised its position in Alamo Group by 62.9% during the second quarter. BNP Paribas Arbitrage SA now owns 2,789 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 1,077 shares during the period. 87.73% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Geoff Davies sold 4,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $98.16, for a total value of $392,640.00. Following the completion of the sale, the vice president now directly owns 3,800 shares in the company, valued at $373,008. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Hodges Raborn sold 364 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $92.19, for a total transaction of $33,557.16. Following the completion of the sale, the executive vice president now owns 4,500 shares of the company’s stock, valued at $414,855. The disclosure for this sale can be found here. Insiders sold 6,364 shares of company stock valued at $649,257 over the last quarter. Company insiders own 3.99% of the company’s stock.
A number of equities analysts have weighed in on ALG shares. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Tuesday, August 8th. BidaskClub cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. ValuEngine cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies set a $104.00 price objective on shares of Alamo Group and gave the stock a “buy” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $105.00.
Shares of Alamo Group, Inc. (ALG) opened at $112.08 on Monday. The company has a market cap of $1,303.76, a PE ratio of 26.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.48 and a quick ratio of 2.85. Alamo Group, Inc. has a 12-month low of $70.53 and a 12-month high of $114.57.
Alamo Group (NYSE:ALG) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.16. The business had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. sell-side analysts anticipate that Alamo Group, Inc. will post 4.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Monday, October 16th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, October 13th. Alamo Group’s dividend payout ratio (DPR) is 9.59%.
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About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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