GAMMA Investing LLC Purchases 42,301 Shares of Alamo Group Inc. (NYSE:ALG)

GAMMA Investing LLC grew its position in Alamo Group Inc. (NYSE:ALG) by 37,434.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,414 shares of the industrial products company’s stock after purchasing an additional 42,301 shares during the quarter. GAMMA Investing LLC owned approximately 0.35% of Alamo Group worth $7,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 168 shares during the period. Lazard Asset Management LLC bought a new position in shares of Alamo Group in the fourth quarter worth approximately $79,000. KBC Group NV boosted its position in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Alamo Group by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 69 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Alamo Group in the fourth quarter worth approximately $200,000. 92.36% of the stock is currently owned by institutional investors.

Insider Activity at Alamo Group

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

Analyst Upgrades and Downgrades

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

Alamo Group Price Performance

Shares of NYSE:ALG opened at $207.59 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a fifty day moving average price of $182.41 and a 200 day moving average price of $185.26. Alamo Group Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $208.68. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 20.90 and a beta of 1.07.

Alamo Group (NYSE:ALG) last released its quarterly earnings results 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. The company had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, sell-side analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s payout ratio is 12.50%.

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.