Alamo Group, Inc. (ALG) Stake Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its stake in Alamo Group, Inc. (NYSE:ALG) by 5.1% during the first quarter, Holdings Channel reports. The institutional investor owned 42,300 shares of the industrial products company’s stock after buying an additional 2,040 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Alamo Group were worth $3,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Alamo Group by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 56,465 shares of the industrial products company’s stock valued at $4,302,000 after buying an additional 4,340 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Alamo Group by 4.4% in the first quarter. Great West Life Assurance Co. Can now owns 12,474 shares of the industrial products company’s stock worth $950,000 after buying an additional 523 shares during the period. Stevens Capital Management LP purchased a new stake in shares of Alamo Group during the first quarter worth approximately $207,000. BlackRock Inc. raised its stake in shares of Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock worth $97,174,000 after buying an additional 1,167,004 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Alamo Group by 30.1% in the first quarter. TIAA CREF Investment Management LLC now owns 52,438 shares of the industrial products company’s stock worth $3,995,000 after buying an additional 12,124 shares during the period. Hedge funds and other institutional investors own 87.86% of the company’s stock.

Shares of Alamo Group, Inc. (NYSE ALG) traded up 0.27% during mid-day trading on Friday, hitting $88.96. The stock had a trading volume of 69,369 shares. The firm’s 50 day moving average price is $92.24 and its 200 day moving average price is $83.24. The company has a market cap of $1.03 billion, a P/E ratio of 22.87 and a beta of 0.95. Alamo Group, Inc. has a 1-year low of $58.30 and a 1-year high of $95.62.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.05. The company had revenue of $213.28 million for the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. Analysts predict that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 17th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. Alamo Group’s dividend payout ratio (DPR) is presently 10.28%.

ALG has been the topic of a number of research reports. Zacks Investment Research upgraded Alamo Group from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a report on Friday, May 5th. Seaport Global Securities boosted their price target on Alamo Group from $71.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, May 8th. Piper Jaffray Companies restated a “buy” rating and issued a $90.00 price target on shares of Alamo Group in a report on Friday, July 14th. Finally, BidaskClub lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Friday, June 23rd.

In other news, Director David W. Grzelak sold 2,201 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the transaction, the director now owns 1,325 shares of the company’s stock, valued at approximately $122,138.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dan Edward Malone sold 950 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $90.75, for a total transaction of $86,212.50. Following the transaction, the vice president now directly owns 11,950 shares in the company, valued at approximately $1,084,462.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,335 shares of company stock worth $305,830 in the last three months. Insiders own 3.99% of the company’s stock.

Alamo Group Company Profile

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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