First Trust Advisors LP Increases Position in Alamo Group, Inc. $ALG

First Trust Advisors LP raised its holdings in Alamo Group, Inc. (NYSE:ALG) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 393,487 shares of the industrial products company’s stock after acquiring an additional 9,297 shares during the period. First Trust Advisors LP owned approximately 3.25% of Alamo Group worth $75,117,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 314 shares in the last quarter. MAI Capital Management purchased a new position in Alamo Group during the third quarter worth approximately $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Alamo Group during the second quarter worth approximately $87,000. Globeflex Capital L P acquired a new position in Alamo Group during the second quarter worth $100,000. Finally, Tower Research Capital LLC TRC boosted its stake in Alamo Group by 152.4% during the second quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after buying an additional 518 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALG has been the subject of a number of recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a research note on Monday. Zacks Research cut shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alamo Group currently has an average rating of “Hold” and an average target price of $225.00.

Alamo Group Price Performance

ALG stock opened at $167.79 on Tuesday. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.03 billion, a PE ratio of 19.53, a P/E/G ratio of 1.01 and a beta of 1.10. Alamo Group, Inc. has a 12-month low of $156.29 and a 12-month high of $233.29. The business’s fifty day moving average price is $194.67 and its 200 day moving average price is $187.55.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). The firm had revenue of $373.65 million for the quarter, compared to analysts’ expectations of $405.18 million. Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. On average, sell-side analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were given a dividend of $0.34 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s dividend payout ratio is currently 15.83%.

Alamo Group 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.