426 Shares in Alamo Group Inc. (NYSE:ALG) Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new stake in Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 426 shares of the industrial products company’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cornerstone Investment Partners LLC boosted its position in shares of Alamo Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 56 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after buying an additional 69 shares during the period. Swiss National Bank grew its stake in shares of Alamo Group by 0.5% in the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after buying an additional 100 shares in the last quarter. Mariner LLC grew its stake in shares of Alamo Group by 8.7% in the fourth quarter. Mariner LLC now owns 1,607 shares of the industrial products company’s stock valued at $299,000 after buying an additional 129 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Alamo Group by 0.9% in the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock valued at $3,116,000 after buying an additional 142 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 in the company, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,948 shares in the company, valued at approximately $2,613,424.32. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $196.85 on Monday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 19.82 and a beta of 1.02. The firm’s fifty day simple moving average is $178.99 and its 200-day simple moving average is $184.71. Alamo Group Inc. has a twelve month low of $157.07 and a twelve month high of $205.62. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping 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 company had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. Equities analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were given 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 0.61%. Alamo Group’s dividend payout ratio is presently 12.50%.

Analysts Set New Price Targets

ALG has been the subject of several research reports. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. DA Davidson cut their target price on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Wall Street Zen upgraded Alamo Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Robert W. Baird cut Alamo Group from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $224.00 to $177.00 in a research note on Friday, February 28th.

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.