Chesapeake Capital Corp IL Buys New Stake in Alamo Group Inc. (NYSE:ALG)

Chesapeake Capital Corp IL purchased a new position in shares of Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,873 shares of the industrial products company’s stock, valued at approximately $814,000.

A number of other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC grew its holdings in Alamo Group by 0.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock worth $1,592,000 after acquiring an additional 72 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Alamo Group by 251.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after purchasing an additional 31,621 shares during the period. Illinois Municipal Retirement Fund purchased a new position in shares of Alamo Group during the 3rd quarter valued at approximately $1,046,000. Barclays PLC lifted its stake in shares of Alamo Group by 1.4% in the 3rd quarter. Barclays PLC now owns 12,002 shares of the industrial products company’s stock valued at $2,075,000 after purchasing an additional 163 shares during the period. Finally, Swiss National Bank boosted its holdings in Alamo Group by 1.3% during the third quarter. Swiss National Bank now owns 23,800 shares of the industrial products company’s stock worth $4,114,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. DA Davidson cut their price objective on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a report 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 Price Performance

Alamo Group stock traded up $1.36 during trading on Friday, reaching $192.13. The company had a trading volume of 51,861 shares, compared to its average volume of 67,158. The firm has a market capitalization of $2.32 billion, a PE ratio of 17.09 and a beta of 1.07. The firm’s 50-day simple moving average is $205.97 and its 200 day simple moving average is $203.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.01. The business had revenue of $425.59 million for the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same period in the previous year, the business earned $2.79 earnings per share. As a group, equities research 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, April 29th. Investors of record on Tuesday, April 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s payout ratio is 9.25%.

Insiders Place Their Bets

In other news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the transaction, the executive vice president now owns 19,206 shares in the company, valued at $4,299,647.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Alamo Group 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.