Fifth Third Bancorp Buys 8,050 Shares of Alamo Group, Inc. $ALG

Fifth Third Bancorp increased its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 9,698.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,133 shares of the industrial products company’s stock after acquiring an additional 8,050 shares during the period. Fifth Third Bancorp’s holdings in Alamo Group were worth $1,342,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in Alamo Group by 136.2% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the period. Jones Financial Companies Lllp boosted its position in Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 314 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Alamo Group during the 2nd quarter worth approximately $87,000. Kestra Advisory Services LLC bought a new position in shares of Alamo Group during the 4th quarter worth approximately $76,000. Finally, Globeflex Capital L P bought a new position in shares of Alamo Group during the 2nd quarter worth approximately $100,000. 92.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of a number of research reports. Weiss Ratings lowered shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. DA Davidson reaffirmed a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded shares of Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Alamo Group Stock Performance

NYSE:ALG opened at $165.32 on Friday. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $2.01 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. Alamo Group, Inc. has a twelve month low of $145.76 and a twelve month high of $233.29. The stock’s 50-day simple moving average is $158.62 and its 200 day simple moving average is $173.97.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The firm had revenue of $417.15 million during the quarter, compared to analysts’ expectations of $398.02 million. Alamo Group had a net margin of 6.21% and a return on equity of 9.71%. On average, analysts anticipate that Alamo Group, Inc. will post 10.65 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Thursday, July 16th will be given a $0.34 dividend. The ex-dividend date is Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is currently 16.27%.

Alamo Group Company Profile

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.