Bank of New York Mellon Corp Has $20.75 Million Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Bank of New York Mellon Corp cut its stake in shares of Alamo Group Inc. (NYSE:ALG) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,658 shares of the industrial products company’s stock after selling 1,088 shares during the period. Bank of New York Mellon Corp owned 0.94% of Alamo Group worth $20,747,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dakota Wealth Management lifted its position in shares of Alamo Group by 4.4% in the fourth quarter. Dakota Wealth Management now owns 1,882 shares of the industrial products company’s stock valued at $266,000 after buying an additional 79 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Alamo Group by 40.3% in the fourth quarter. Teacher Retirement System of Texas now owns 48,995 shares of the industrial products company’s stock valued at $6,938,000 after buying an additional 14,078 shares during the last quarter. ClariVest Asset Management LLC increased its stake in shares of Alamo Group by 63.2% during the first quarter. ClariVest Asset Management LLC now owns 7,778 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 3,013 shares during the period. Bank of Montreal Can increased its stake in shares of Alamo Group by 14.3% during the fourth quarter. Bank of Montreal Can now owns 2,067 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 259 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Alamo Group during the first quarter worth approximately $271,000. 91.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard J. Wehrle sold 1,166 shares of Alamo Group stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $183.57, for a total value of $214,042.62. Following the transaction, the chief financial officer now owns 27,057 shares in the company, valued at approximately $4,966,853.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Richard J. Wehrle sold 1,500 shares of Alamo Group stock in a transaction on Monday, June 12th. The stock was sold at an average price of $182.28, for a total value of $273,420.00. Following the transaction, the chief financial officer now owns 25,723 shares in the company, valued at approximately $4,688,788.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard J. Wehrle sold 1,166 shares of Alamo Group stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $183.57, for a total value of $214,042.62. Following the completion of the transaction, the chief financial officer now owns 27,057 shares in the company, valued at approximately $4,966,853.49. The disclosure for this sale can be found here. Insiders have sold a total of 3,249 shares of company stock worth $588,211 in the last 90 days. Company insiders own 2.30% of the company’s stock.

Alamo Group Price Performance

Alamo Group stock opened at $170.85 on Tuesday. The stock’s fifty day moving average price is $183.28 and its two-hundred day moving average price is $178.50. Alamo Group Inc. has a one year low of $118.73 and a one year high of $200.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.06 and a quick ratio of 2.34. The firm has a market cap of $2.05 billion, a PE ratio of 16.40 and a beta of 1.01.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). Alamo Group had a return on equity of 15.54% and a net margin of 7.76%. The company had revenue of $440.69 million for the quarter, compared to the consensus estimate of $455.00 million. As a group, research analysts expect that Alamo Group Inc. will post 11.15 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Tuesday, July 18th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, July 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.52%. Alamo Group’s dividend payout ratio (DPR) is presently 8.45%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. DA Davidson increased their target price on Alamo Group from $208.00 to $212.00 in a research note on Thursday, June 8th. StockNews.com assumed coverage on Alamo Group in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Raymond James lowered their target price on Alamo Group from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th.

About Alamo Group

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.