Nuance Investments LLC Acquires New Position in Alamo Group, Inc. $ALG

Nuance Investments LLC purchased a new position in Alamo Group, Inc. (NYSE:ALG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,651 shares of the industrial products company’s stock, valued at approximately $3,232,000.

A number of other large investors have also recently made changes to their positions in ALG. BlackRock Inc. purchased a new position in Alamo Group in the second quarter valued at $288,972,000. Deutsche Bank AG purchased a new position in Alamo Group during the 2nd quarter worth $1,831,000. Rice Hall James & Associates LLC acquired a new position in Alamo Group in the 2nd quarter valued at about $2,276,000. Global Retirement Partners LLC purchased a new stake in shares of Alamo Group during the second quarter worth approximately $35,000. Finally, Bank of New York Mellon Corp purchased a new position in Alamo Group during the 2nd quarter worth $9,803,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALG has been the subject of a number of recent analyst reports. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. DA Davidson reiterated a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.00.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 2,715 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the sale, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.06% of the stock is owned by corporate insiders.

Alamo Group Price Performance

Shares of NYSE ALG opened at $161.99 on Tuesday. 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 1-year low of $145.76 and a 1-year high of $227.07. The business has a 50-day moving average of $162.91 and a 200-day moving average of $171.07. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.98 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The company had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. On average, equities analysts anticipate that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s payout ratio is currently 16.31%.

Alamo Group Company 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.