Tributary Capital Management LLC Acquires 97,898 Shares of Alamo Group, Inc. $ALG

Tributary Capital Management LLC grew its holdings in Alamo Group, Inc. (NYSE:ALG) by 92.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,742 shares of the industrial products company’s stock after purchasing an additional 97,898 shares during the period. Alamo Group comprises approximately 1.8% of Tributary Capital Management LLC’s holdings, making the stock its 18th largest holding. Tributary Capital Management LLC owned approximately 1.68% of Alamo Group worth $38,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALG. State of Alaska Department of Revenue increased its holdings in Alamo Group by 7.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,188 shares of the industrial products company’s stock worth $1,350,000 after purchasing an additional 441 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Alamo Group by 8.3% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,292 shares of the industrial products company’s stock worth $1,811,000 after buying an additional 635 shares during the period. Jump Financial LLC grew its position in shares of Alamo Group by 203.0% during the 2nd quarter. Jump Financial LLC now owns 25,508 shares of the industrial products company’s stock worth $5,570,000 after buying an additional 17,089 shares in the last quarter. American Century Companies Inc. grew its position in shares of Alamo Group by 201.6% during the 2nd quarter. American Century Companies Inc. now owns 153,720 shares of the industrial products company’s stock worth $33,569,000 after buying an additional 102,751 shares in the last quarter. Finally, Vest Financial LLC increased its stake in shares of Alamo Group by 65.4% during the second quarter. Vest Financial LLC now owns 22,526 shares of the industrial products company’s stock valued at $4,919,000 after buying an additional 8,910 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ALG. CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of Alamo Group from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Finally, DA Davidson reduced their price objective on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.33.

Insiders Place Their Bets

In other Alamo Group news, CEO Robert Paul Hureau purchased 304 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were acquired at an average price of $163.48 per share, for a total transaction of $49,697.92. Following the completion of the purchase, the chief executive officer owned 12,046 shares of the company’s stock, valued at approximately $1,969,280.08. The trade was a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 1,058 shares of company stock valued at $175,209 over the last three months. 1.18% of the stock is currently owned by company insiders.

Alamo Group Price Performance

Shares of ALG opened at $182.33 on Thursday. The company has a 50 day moving average of $169.29 and a two-hundred day moving average of $194.74. The company has a quick ratio of 2.72, a current ratio of 4.43 and a debt-to-equity ratio of 0.17. Alamo Group, Inc. has a twelve month low of $156.29 and a twelve month high of $233.29. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.02 and a beta of 1.12.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). The business had revenue of $420.04 million for the quarter, compared to analyst estimates of $407.55 million. Alamo Group had a return on equity of 11.11% and a net margin of 7.20%. As a group, analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Friday, January 16th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.7%. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, January 16th. Alamo Group’s dividend payout ratio (DPR) is 12.45%.

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.