Tributary Capital Management LLC Takes Position in Alamo Group Inc. (NYSE:ALG)

Tributary Capital Management LLC purchased a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 56,252 shares of the industrial products company’s stock, valued at approximately $12,844,000.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group by 42.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after acquiring an additional 119,636 shares in the last quarter. RK Capital Management LLC raised its holdings in Alamo Group by 81.2% during the 4th quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock valued at $11,405,000 after buying an additional 24,310 shares during the period. Cerity Partners LLC raised its holdings in Alamo Group by 75.0% during the 4th quarter. Cerity Partners LLC now owns 53,570 shares of the industrial products company’s stock valued at $11,260,000 after buying an additional 22,951 shares during the period. AQR Capital Management LLC grew its position in Alamo Group by 119.2% in the 3rd quarter. AQR Capital Management LLC now owns 29,635 shares of the industrial products company’s stock valued at $5,123,000 after acquiring an additional 16,115 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Alamo Group by 5.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 267,493 shares of the industrial products company’s stock worth $56,225,000 after buying an additional 14,155 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALG shares. DA Davidson dropped their price objective on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Alamo Group Stock Down 0.4 %

ALG opened at $166.77 on Tuesday. The business has a 50 day moving average price of $188.03 and a two-hundred day moving average price of $202.38. 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 company has a market cap of $2.01 billion, a PE ratio of 14.90 and a beta of 1.04. Alamo Group Inc. has a 52 week low of $157.74 and a 52 week high of $231.40.

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

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.