Envestnet Portfolio Solutions Inc. Buys Shares of 1,458 Alamo Group Inc. (NYSE:ALG)

Envestnet Portfolio Solutions Inc. bought a new position in Alamo Group Inc. (NYSE:ALG) in the 2nd quarter, HoldingsChannel reports. The fund bought 1,458 shares of the industrial products company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also modified their holdings of ALG. Quadrature Capital Ltd increased its stake in Alamo Group by 62.4% in the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after buying an additional 7,311 shares during the period. RK Capital Management LLC increased its stake in shares of Alamo Group by 81.2% in the fourth quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock worth $11,405,000 after acquiring an additional 24,310 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Alamo Group during the first quarter worth $1,067,000. Janus Henderson Group PLC boosted its position in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock valued at $39,346,000 after purchasing an additional 51,292 shares during the last quarter. Finally, Raymond James & Associates acquired a new stake in Alamo Group during the fourth quarter valued at $215,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALG. Robert W. Baird dropped their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. DA Davidson cut their price objective on shares of Alamo Group from $225.00 to $209.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Price Performance

NYSE ALG opened at $184.32 on Friday. Alamo Group Inc. has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The stock’s 50-day moving average is $176.89 and its two-hundred day moving average is $194.40. The firm has a market cap of $2.22 billion, a P/E ratio of 16.40 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.49.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The company had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same quarter last year, the firm earned $3.03 earnings per share. On average, analysts anticipate that Alamo Group Inc. will post 12.3 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, July 16th. Alamo Group’s payout ratio is 9.25%.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares in the company, valued at approximately $1,384,421.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

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.