13,834 Shares in Alamo Group, Inc. $ALG Purchased by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC acquired a new stake in Alamo Group, Inc. (NYSE:ALG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,834 shares of the industrial products company’s stock, valued at approximately $2,276,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Alamo Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock worth $1,084,000 after acquiring an additional 251 shares in the last quarter. Millennium Management LLC raised its position in shares of Alamo Group by 164.7% during the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock valued at $11,332,000 after acquiring an additional 39,564 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alamo Group by 12.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock worth $6,444,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Alamo Group by 83.7% in the second quarter. Invesco Ltd. now owns 77,385 shares of the industrial products company’s stock worth $16,899,000 after purchasing an additional 35,248 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. DA Davidson reiterated a “neutral” rating and set a $188.00 target price on shares of Alamo Group in a research note on Wednesday, July 1st. Zacks Research raised shares of Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $188.00.

Alamo Group Price Performance

Shares of ALG opened at $159.56 on Wednesday. Alamo Group, Inc. has a 12 month low of $145.76 and a 12 month high of $227.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48. The stock has a fifty day moving average price of $163.04 and a 200 day moving average price of $170.85. The company has a market cap of $1.94 billion, a P/E ratio of 19.13, a PEG ratio of 0.98 and a beta of 1.10.

Alamo Group (NYSE:ALG) last announced 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. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The company had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million. On average, research analysts forecast that Alamo Group, Inc. will post 10.56 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were given a $0.34 dividend. The ex-dividend date was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.9%. Alamo Group’s dividend payout ratio (DPR) is currently 16.31%.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. The trade was a 25.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.06% of the stock is currently owned by corporate insiders.

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.