Cerity Partners LLC Sells 423 Shares of Alamo Group, Inc. (NYSE:ALG)

Cerity Partners LLC trimmed its position in shares of Alamo Group, Inc. (NYSE:ALG) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,794 shares of the industrial products company’s stock after selling 423 shares during the quarter. Cerity Partners LLC owned 0.16% of Alamo Group worth $3,349,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company’s stock valued at $134,070,000 after purchasing an additional 2,361 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company’s stock valued at $125,732,000 after buying an additional 26,835 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Alamo Group by 7.7% during the fourth quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company’s stock valued at $31,100,000 after buying an additional 11,930 shares during the last quarter. Bank of America Corp DE increased its position in shares of 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 worth $24,260,000 after acquiring an additional 116,404 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position 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 worth $21,539,000 after acquiring an additional 89,430 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Insider Activity

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer directly owned 40,913 shares in the company, valued at $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 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 corporate insiders.

Alamo Group Price Performance

Shares of NYSE ALG opened at $216.85 on Friday. The company has a market capitalization of $2.62 billion, a PE ratio of 22.59 and a beta of 1.08. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $211.84 and its 200-day moving average price is $190.44. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $230.16.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. On average, equities analysts anticipate that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 16th. Alamo Group’s dividend payout ratio (DPR) is currently 12.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALG shares. Wall Street Zen upgraded Alamo Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. DA Davidson cut their target price on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Monday, April 21st.

Alamo Group Profile

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.