Vest Financial LLC Increases Stock Holdings in Alamo Group, Inc. $ALG

Vest Financial LLC grew its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 19.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,846 shares of the industrial products company’s stock after purchasing an additional 4,320 shares during the quarter. Vest Financial LLC’s holdings in Alamo Group were worth $5,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Wasatch Advisors LP bought a new stake in Alamo Group during the second quarter valued at approximately $51,427,000. American Century Companies Inc. boosted its stake 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 acquiring an additional 102,751 shares during the last quarter. Tributary Capital Management LLC grew its position in shares of Alamo Group by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock valued at $38,895,000 after acquiring an additional 97,898 shares during the period. First Trust Advisors LP grew its position in shares of Alamo Group by 28.6% during the 2nd quarter. First Trust Advisors LP now owns 384,190 shares of the industrial products company’s stock valued at $83,899,000 after acquiring an additional 85,478 shares during the period. Finally, River Road Asset Management LLC purchased a new stake in shares of Alamo Group in the 2nd quarter worth $10,222,000. Institutional investors own 92.36% of the company’s stock.

Insider Activity at Alamo Group

In other Alamo Group news, CEO Robert Paul Hureau bought 600 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $167.77 per share, with a total value of $100,662.00. Following the completion of the acquisition, the chief executive officer owned 11,588 shares in the company, valued at $1,944,118.76. This trade represents a 5.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders purchased 1,058 shares of company stock worth $175,209. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALG has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, DA Davidson decreased their target price on Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Alamo Group has an average rating of “Moderate Buy” and a consensus target price of $222.33.

Alamo Group Stock Up 1.8%

ALG opened at $192.04 on Thursday. The company has a market capitalization of $2.33 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. The firm has a 50-day simple moving average of $172.89 and a two-hundred day simple moving average of $192.64. 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 52 week low of $156.29 and a 52 week high of $233.29.

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

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 29th. Stockholders of record on Friday, January 16th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is currently 14.11%.

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.