President and Co-Chief Investment Officer of Royce & Associates Chuck Royce added Alamo Group (ALG) again for 21.66% on February 28, 2013, after his 34.51% add on the last day of December 2012. His total stake in ALG is currently 1,238,407 shares with a current price of $37, change from average at 3%. With small cap stocks at the core of the Royce & Associate funds, Royce manages 1,362 stocks, valued at $35 billion as of December 31, 2012. His portfolio shows a quarter-over-quarter turnover rate of 3%.

Chuck Royce’s Holding History of ALG shows low stakes in the company until a jump in second quarter of 2012.



Headquartered in England, Alamo Group operates 18 plants in North America and Europe. Its name products include truck and tractor-mounted mowers, excavators, street sweepers, snow removal equipment and pothole patchers, as well as aftermarket parts and services. Among its many brands are Rhino, Bush Hog, Rousseau, and Henke Manufacturing.

Here’s a detailed history of ALG performance and financials.

“Committed to smaller companies, devoted to value” are the watch words of The Royce Funds. Royce portfolio manager Lauren Romeo describes the most important markers of company quality as: “For us, the key markers of quality are a strong balance sheet, good free cash flow generation, and a history of high returns on invested capital (ROIC). A strong balance sheet gives a company the financial wherewithal to weather times when their operational results come under pressure due to cyclical or temporary company-specific factors. Net cash on the balance sheet and the ability to generate free cash flow allow a company to self-fund growth rather than be a hostage to the state of capital or lending markets.”

Investor Guru of the small cap strategy, Chuck Royce celebrated his 40th anniversary as manager of the Royce Pennsylvania Mutual Fund in November 2012.

Here’s a summary of Chuck Royce’s top buys, top sells, and top holdings.



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