Alamo Group Inc. (NYSE:ALG) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors cut its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,937 shares of the industrial products company’s stock after selling 274 shares during the period. Captrust Financial Advisors’ holdings in Alamo Group were worth $546,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company’s stock valued at $24,260,000 after buying an additional 116,404 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock valued at $21,539,000 after acquiring an additional 89,430 shares during the period. Norges Bank purchased a new stake in shares of Alamo Group in the 4th quarter valued at approximately $6,786,000. Victory Capital Management Inc. boosted its stake in Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after purchasing an additional 33,294 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after purchasing an additional 30,826 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Trading Up 0.6%

Alamo Group stock opened at $203.21 on Monday. Alamo Group Inc. has a 12 month low of $157.07 and a 12 month high of $205.62. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.46 billion, a P/E ratio of 20.46 and a beta of 1.02. The company’s fifty day simple moving average is $177.56 and its 200-day simple moving average is $184.37.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $390.95 million during the quarter, compared to analysts’ expectations of $391.08 million. As a group, sell-side analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.59%. Alamo Group’s dividend payout ratio is 12.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a report on Monday, March 3rd. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $224.00 to $177.00 in a research report on Friday, February 28th. Baird R W cut Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, DA Davidson dropped their target price on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, April 21st.

Insider Activity at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the sale, the chief executive officer now owns 40,913 shares of the company’s stock, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 500 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the sale, the executive vice president now owns 12,948 shares of the company’s stock, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

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.