AlphaCore Capital LLC Acquires Shares of 4,050 Alamo Group, Inc. $ALG

AlphaCore Capital LLC bought a new position in Alamo Group, Inc. (NYSE:ALG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 4,050 shares of the industrial products company’s stock, valued at approximately $773,000.

A number of other large investors also recently made changes to their positions in the company. Neumeier Poma Investment Counsel LLC boosted its holdings in Alamo Group by 52.5% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 95,931 shares of the industrial products company’s stock worth $18,313,000 after purchasing an additional 33,042 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Alamo Group by 474.9% in the 3rd quarter. Intech Investment Management LLC now owns 41,245 shares of the industrial products company’s stock worth $7,874,000 after buying an additional 34,071 shares during the last quarter. MAI Capital Management bought a new position in shares of Alamo Group in the third quarter valued at approximately $73,000. King Luther Capital Management Corp grew its holdings in shares of Alamo Group by 0.7% in the third quarter. King Luther Capital Management Corp now owns 44,327 shares of the industrial products company’s stock valued at $8,462,000 after acquiring an additional 310 shares in the last quarter. Finally, First National Bank of Omaha purchased a new stake in shares of Alamo Group during the third quarter valued at approximately $606,000. 92.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALG. DA Davidson lowered their price objective on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. CJS Securities raised Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.33.

Alamo Group Stock Down 1.4%

Shares of NYSE:ALG opened at $213.51 on Friday. The firm has a market capitalization of $2.59 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.72 and a current ratio of 4.43. Alamo Group, Inc. has a 52-week low of $156.29 and a 52-week high of $233.29. The firm has a fifty day moving average of $193.64 and a 200 day moving average of $189.73.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio (DPR) is currently 14.11%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.