Advisors Asset Management Inc. Buys 769 Shares of Alamo Group Inc. (NYSE:ALG)

Advisors Asset Management Inc. grew its stake in Alamo Group Inc. (NYSE:ALG) by 12.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,014 shares of the industrial products company’s stock after acquiring an additional 769 shares during the quarter. Advisors Asset Management Inc. owned 0.06% of Alamo Group worth $1,602,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Contravisory Investment Management Inc. boosted its stake in Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares in the last quarter. Quest Partners LLC purchased a new position in Alamo Group in the fourth quarter worth about $52,000. Bessemer Group Inc. lifted its stake in shares of Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after buying an additional 264 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of Alamo Group during the first quarter valued at approximately $82,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $208,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Trading Up 1.5 %

Shares of ALG stock opened at $194.96 on Friday. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40. The stock has a market capitalization of $2.35 billion, a P/E ratio of 17.35 and a beta of 1.04. The firm’s 50 day moving average is $180.50 and its 200 day moving average is $198.55.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million for the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same quarter last year, the business earned $2.79 earnings per share. Research analysts expect that Alamo Group Inc. will post 12.3 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Tuesday, July 16th. Alamo Group’s payout ratio is currently 9.25%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALG. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson dropped their price objective on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.