M&T Bank Corp Invests $1.21 Million in Alamo Group, Inc. $ALG

M&T Bank Corp purchased a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 7,185 shares of the industrial products company’s stock, valued at approximately $1,206,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Alamo Group by 3,140.0% during the 1st 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 during the last quarter. MAI Capital Management acquired a new position in shares of Alamo Group during the 3rd quarter worth $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Alamo Group during the 2nd quarter worth $87,000. Globeflex Capital L P acquired a new position in shares of Alamo Group during the 2nd quarter worth $100,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Alamo Group by 152.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after buying an additional 518 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALG. William Blair began coverage on Alamo Group in a research note on Monday, March 16th. They set an “outperform” rating for the company. Zacks Research downgraded Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. DA Davidson reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alamo Group in a research note on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alamo Group presently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 600 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president owned 10,857 shares in the company, valued at approximately $1,855,787.01. The trade was a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina C. Grooms sold 499 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the sale, the director owned 2,844 shares of the company’s stock, valued at $498,240.36. The trade was a 14.93% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.06% of the company’s stock.

Alamo Group Stock Down 0.2%

Shares of NYSE:ALG opened at $168.51 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.82 and a current ratio of 4.57. Alamo Group, Inc. has a 1 year low of $156.29 and a 1 year high of $233.29. The stock has a market capitalization of $2.04 billion, a P/E ratio of 19.62, a PEG ratio of 1.04 and a beta of 1.20. The stock has a 50-day simple moving average of $177.52 and a 200-day simple moving average of $179.42.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). Alamo Group had a return on equity of 10.04% and a net margin of 6.47%.The firm had revenue of $373.65 million for the quarter, compared to analysts’ expectations of $405.18 million. Equities analysts forecast that Alamo Group, Inc. will post 10.32 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group’s payout ratio is presently 15.83%.

Alamo Group Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.