BlackRock Inc. Purchases Shares of 1,756,777 Alamo Group, Inc. $ALG

BlackRock Inc. acquired a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,756,777 shares of the industrial products company’s stock, valued at approximately $288,972,000. BlackRock Inc. owned about 0.14% of Alamo Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALG. Wasatch Advisors LP bought a new stake in shares of Alamo Group in the 2nd quarter worth about $51,427,000. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Alamo Group by 53.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 358,435 shares of the industrial products company’s stock worth $59,131,000 after buying an additional 124,845 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Alamo Group by 189.3% during the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock worth $29,936,000 after buying an additional 118,737 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Alamo Group by 239.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock valued at $26,404,000 after acquiring an additional 110,941 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alamo Group by 72.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 230,180 shares of the industrial products company’s stock worth $38,641,000 after acquiring an additional 96,369 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALG shares. DA Davidson reaffirmed a “neutral” rating and set a $188.00 price target on shares of Alamo Group in a report on Wednesday, July 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Alamo Group in a research note on Friday, August 21st. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $188.00.

Insider Activity at Alamo Group

In other news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the completion of the sale, the executive vice president owned 8,142 shares in the company, valued at $1,338,626.22. The trade was a 25.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is currently owned by corporate insiders.

Alamo Group Stock Up 1.4%

NYSE ALG opened at $164.32 on Thursday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. Alamo Group, Inc. has a 52 week low of $145.76 and a 52 week high of $219.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. The stock has a fifty day moving average of $164.23 and a 200-day moving average of $169.41.

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

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, July 16th. Alamo Group’s dividend payout ratio (DPR) is 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.