Advisors Asset Management Inc. raised its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,565 shares of the industrial products company’s stock after buying an additional 276 shares during the period. Advisors Asset Management Inc. owned 0.12% of Alamo Group worth $1,232,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ALG. BlackRock Inc. boosted its position in shares of Alamo Group by 1,076.3% in the first quarter. BlackRock Inc. now owns 1,275,432 shares of the industrial products company’s stock valued at $97,174,000 after buying an additional 1,167,004 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Alamo Group by 37.5% in the first quarter. Bank of New York Mellon Corp now owns 179,240 shares of the industrial products company’s stock valued at $13,655,000 after buying an additional 48,873 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Alamo Group by 9.0% in the first quarter. Vanguard Group Inc. now owns 496,485 shares of the industrial products company’s stock valued at $37,828,000 after buying an additional 41,187 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Alamo Group by 4.5% in the first quarter. Victory Capital Management Inc. now owns 695,365 shares of the industrial products company’s stock valued at $52,980,000 after buying an additional 29,830 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Alamo Group by 25.3% in the first quarter. Geode Capital Management LLC now owns 125,863 shares of the industrial products company’s stock valued at $9,589,000 after buying an additional 25,425 shares in the last quarter. 90.27% of the stock is owned by institutional investors.

Shares of Alamo Group, Inc. (NYSE ALG) opened at 89.33 on Monday. The stock’s 50 day moving average is $91.92 and its 200 day moving average is $83.71. The stock has a market capitalization of $1.04 billion, a PE ratio of 22.96 and a beta of 0.95. Alamo Group, Inc. has a 52-week low of $58.30 and a 52-week high of $95.62.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.05. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. The company had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. Equities research analysts expect that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on ALG shares. BidaskClub raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Seaport Global Securities lifted their price objective on shares of Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price objective on shares of Alamo Group in a research report on Friday, July 14th. Finally, Zacks Investment Research cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th.

In other news, VP Dan Edward Malone sold 950 shares of Alamo Group stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $90.75, for a total value of $86,212.50. Following the transaction, the vice president now owns 11,950 shares of the company’s stock, valued at $1,084,462.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now directly owns 1,325 shares in the company, valued at approximately $122,138.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,335 shares of company stock worth $305,830. Insiders own 3.99% of the company’s stock.

Alamo Group Company Profile

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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