Assenagon Asset Management S.A. Has $12.82 Million Holdings in Alamo Group Inc. (NYSE:ALG)

Assenagon Asset Management S.A. increased its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 1,486.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 71,186 shares of the industrial products company’s stock after acquiring an additional 66,698 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alamo Group were worth $12,823,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after buying an additional 159 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alamo Group during the 2nd quarter worth $48,000. Quarry LP acquired a new stake in Alamo Group during the 2nd quarter worth $48,000. nVerses Capital LLC acquired a new stake in Alamo Group during the 2nd quarter worth $52,000. Finally, Bessemer Group Inc. raised its stake in Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Price Performance

Shares of NYSE ALG opened at $171.78 on Monday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 15.28 and a beta of 1.06. The business has a 50-day moving average of $177.67 and a 200-day moving average of $183.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group Inc. has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing the consensus estimate 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 period last year, the firm earned $3.03 EPS. As a group, sell-side analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s payout ratio is 9.25%.

Analysts Set New Price Targets

A number of research firms have issued reports on ALG. DA Davidson increased their target price on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird lowered their target price on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently 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.