Punch & Associates Investment Management Inc. Purchases Shares of 75,589 Alamo Group, Inc. $ALG

Punch & Associates Investment Management Inc. purchased a new stake in Alamo Group, Inc. (NYSE:ALG) during the second quarter, Holdings Channel reports. The fund purchased 75,589 shares of the industrial products company’s stock, valued at approximately $12,434,000.

Several other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in Alamo Group in the 2nd quarter valued at approximately $17,437,000. Freestone Grove Partners LP acquired a new position in Alamo Group during the second quarter worth $1,419,000. Man Group plc acquired a new position in Alamo Group during the second quarter worth $2,299,000. Jupiter Topco LLC purchased a new position in shares of Alamo Group during the second quarter worth $28,617,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Alamo Group during the second quarter worth $337,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research analyst reports. DA Davidson reiterated a “neutral” rating and issued a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alamo Group in a research report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alamo Group has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 2,715 shares of Alamo Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president owned 8,142 shares in the company, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is owned by corporate insiders.

Alamo Group Stock Performance

Shares of ALG stock opened at $164.32 on Thursday. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. Alamo Group, Inc. has a 52 week low of $145.76 and a 52 week high of $219.88. The stock has a market capitalization of $2.00 billion, a PE ratio of 19.70, a P/E/G ratio of 0.96 and a beta of 1.10. The firm has a 50 day moving average of $164.23 and a two-hundred day moving average of $169.41.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 16.31%.

About Alamo Group

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.