Legal & General Group Plc Takes $4.13 Million Position in Alamo Group, Inc. $ALG

Legal & General Group Plc bought a new position in shares of Alamo Group, Inc. (NYSE:ALG) during the second quarter, Holdings Channel reports. The fund bought 25,133 shares of the industrial products company’s stock, valued at approximately $4,134,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Alamo Group during the second quarter valued at about $288,972,000. Wasatch Advisors LP bought a new stake in shares of Alamo Group in the 2nd quarter worth approximately $51,427,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Alamo Group by 53.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 358,435 shares of the industrial products company’s stock valued at $59,131,000 after acquiring an additional 124,845 shares in the last quarter. Copeland Capital Management LLC increased its stake in Alamo Group by 189.3% in the first quarter. Copeland Capital Management LLC now owns 181,465 shares of the industrial products company’s stock valued at $29,936,000 after acquiring an additional 118,737 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Alamo Group by 239.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 157,291 shares of the industrial products company’s stock worth $26,404,000 after purchasing an additional 110,941 shares during the period. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 1.0%

NYSE:ALG opened at $173.32 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. Alamo Group, Inc. has a 52-week low of $145.76 and a 52-week high of $219.88. The company has a market cap of $2.11 billion, a PE ratio of 20.78, a PEG ratio of 1.02 and a beta of 1.09. The stock has a 50-day simple moving average of $164.83 and a 200 day simple moving average of $167.66.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. The business had revenue of $450.73 million during the quarter, compared to analysts’ expectations of $437.48 million. Alamo Group had a return on equity of 9.83% and a net margin of 6.08%. On average, sell-side analysts expect that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 annualized dividend and a yield of 0.8%. Alamo Group’s dividend payout ratio is presently 16.31%.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $164.41, for a total value of $446,373.15. Following the sale, the executive vice president owned 8,142 shares of the company’s stock, valued at approximately $1,338,626.22. This trade represents a 25.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.06% of the stock is owned by insiders.

Analyst Ratings Changes

ALG has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Alamo Group in a research note on Friday, August 21st. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned 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 $188.00.

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.