Allspring Global Investments Holdings LLC Grows Stock Position in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 403,017 shares of the industrial products company’s stock after buying an additional 3,827 shares during the quarter. Allspring Global Investments Holdings LLC owned about 3.34% of Alamo Group worth $92,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. lifted its position in Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 47 shares during the period. Diversified Trust Co increased its stake in Alamo Group by 5.2% during the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 72 shares during the last quarter. Yousif Capital Management LLC increased its stake in Alamo Group by 2.9% during the fourth quarter. Yousif Capital Management LLC now owns 5,267 shares of the industrial products company’s stock worth $1,107,000 after acquiring an additional 147 shares during the last quarter. Quest Partners LLC acquired a new stake in Alamo Group during the fourth quarter worth about $52,000. Finally, Guidance Capital Inc. increased its stake in Alamo Group by 29.8% during the first quarter. Guidance Capital Inc. now owns 2,087 shares of the industrial products company’s stock worth $449,000 after acquiring an additional 479 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Performance

NYSE:ALG traded up $0.47 during trading hours on Tuesday, reaching $167.92. 3,742 shares of the stock were exchanged, compared to its average volume of 71,631. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $188.03 and a 200-day simple moving average of $202.38. Alamo Group Inc. has a 52 week low of $157.74 and a 52 week high of $231.40. The stock has a market capitalization of $2.02 billion, a P/E ratio of 14.84 and a beta of 1.04.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALG. DA Davidson lowered their target price on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Alamo Group Company Profile

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.