Pullen Investment Management LLC Purchases Shares of 8,931 Alamo Group, Inc. $ALG

Pullen Investment Management LLC purchased a new stake in shares of Alamo Group, Inc. (NYSE:ALG) during the first quarter, Holdings Channel reports. The fund purchased 8,931 shares of the industrial products company’s stock, valued at approximately $1,473,000.

A number of other large investors have also recently bought and sold shares of ALG. Vanguard Group Inc. raised its position in shares of Alamo Group by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company’s stock worth $134,000,000 after acquiring an additional 12,499 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Alamo Group by 9.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock worth $113,562,000 after purchasing an additional 57,456 shares during the period. Victory Capital Management Inc. grew its stake in Alamo Group by 7.4% during the fourth quarter. Victory Capital Management Inc. now owns 462,758 shares of the industrial products company’s stock worth $77,683,000 after purchasing an additional 31,860 shares during the period. First Trust Advisors LP increased its holdings in Alamo Group by 13.1% in the fourth quarter. First Trust Advisors LP now owns 445,105 shares of the industrial products company’s stock worth $74,720,000 after purchasing an additional 51,618 shares in the last quarter. Finally, State Street Corp increased its holdings in Alamo Group by 1.3% in the fourth quarter. State Street Corp now owns 409,570 shares of the industrial products company’s stock worth $68,755,000 after purchasing an additional 5,153 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. William Blair assumed coverage on shares of Alamo Group in a research report on Monday, March 16th. They set an “outperform” rating for the company. Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, DA Davidson dropped their target price on shares of Alamo Group from $190.00 to $188.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Alamo Group Stock Performance

Shares of ALG opened at $161.19 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45. The stock has a 50-day moving average of $159.95 and a 200-day moving average of $174.96. The company has a market cap of $1.96 billion, a PE ratio of 19.28, a P/E/G ratio of 0.95 and a beta of 1.11. Alamo Group, Inc. has a one year low of $145.76 and a one year high of $233.29.

Alamo Group (NYSE:ALG) last issued its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The business had revenue of $417.15 million during the quarter, compared to analyst estimates of $398.02 million. On average, equities research analysts predict that Alamo Group, Inc. will post 10.61 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. Alamo Group’s dividend payout ratio (DPR) is 16.27%.

Insider Activity at Alamo Group

In other news, EVP Edward Rizzuti sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president owned 10,857 shares in the company, valued at $1,855,787.01. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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.