Bessemer Group Inc. raised its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 84.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,200 shares of the industrial products company’s stock after purchasing an additional 5,600 shares during the period. Bessemer Group Inc. owned 0.10% of Alamo Group worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Alamo Group by 12.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 9,131 shares of the industrial products company’s stock valued at $696,000 after acquiring an additional 984 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Alamo Group by 30.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 52,438 shares of the industrial products company’s stock worth $3,995,000 after purchasing an additional 12,124 shares during the period. Legal & General Group Plc raised its position in Alamo Group by 1.2% in the 1st quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock worth $1,202,000 after purchasing an additional 184 shares during the period. Thrivent Financial For Lutherans raised its position in Alamo Group by 5.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 5,350 shares of the industrial products company’s stock worth $408,000 after purchasing an additional 260 shares during the period. Finally, Vanguard Group Inc. raised its position in Alamo Group by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock worth $37,828,000 after purchasing an additional 41,187 shares during the period. 87.73% of the stock is owned by institutional investors and hedge funds.
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Alamo Group, Inc. (ALG) opened at $110.64 on Thursday. The stock has a market cap of $1,304.11, a price-to-earnings ratio of 26.01 and a beta of 0.94. Alamo Group, Inc. has a 1 year low of $70.53 and a 1 year high of $114.57. The company has a current ratio of 4.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.28.
Alamo Group (NYSE:ALG) last posted its earnings results on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.16. The company had revenue of $240.46 million during the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. equities analysts anticipate that Alamo Group, Inc. will post 4.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Monday, October 16th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. Alamo Group’s payout ratio is 9.59%.
In other news, VP Geoff Davies sold 4,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $98.16, for a total transaction of $392,640.00. Following the completion of the sale, the vice president now owns 3,800 shares of the company’s stock, valued at $373,008. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 2,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $223,060.00. Following the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $501,885. The disclosure for this sale can be found here. Insiders sold 6,364 shares of company stock valued at $649,257 in the last ninety days. 3.99% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Tuesday, August 8th. ValuEngine lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub lowered shares of Alamo Group from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Piper Jaffray Companies set a $104.00 target price on shares of Alamo Group and gave the company a “buy” rating in a research note on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $105.00.
About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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