Envestnet Asset Management Inc. Has $4.19 Million Stock Holdings in Alamo Group, Inc. (NYSE:ALG)

Envestnet Asset Management Inc. trimmed its position in Alamo Group, Inc. (NYSE:ALG) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,498 shares of the industrial products company’s stock after selling 474 shares during the period. Envestnet Asset Management Inc. owned approximately 0.19% of Alamo Group worth $4,188,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Alamo Group during the 4th quarter worth approximately $200,000. Commonwealth Equity Services LLC bought a new position in shares of Alamo Group during the 4th quarter worth approximately $1,398,000. American Century Companies Inc. grew its stake in shares of Alamo Group by 54.6% during the 4th quarter. American Century Companies Inc. now owns 13,918 shares of the industrial products company’s stock worth $2,587,000 after acquiring an additional 4,918 shares in the last quarter. Sei Investments Co. grew its stake in shares of Alamo Group by 20.7% during the 4th quarter. Sei Investments Co. now owns 20,539 shares of the industrial products company’s stock worth $3,819,000 after acquiring an additional 3,517 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Alamo Group during the 4th quarter worth approximately $372,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Shares of ALG opened at $219.08 on Friday. The stock has a 50-day moving average of $213.42 and a two-hundred day moving average of $191.72. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $230.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30. The stock has a market cap of $2.65 billion, a P/E ratio of 22.82 and a beta of 1.08.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.32. The firm had revenue of $390.95 million for the quarter, compared to analysts’ expectations of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. As a group, research analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

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

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of the business’s 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 directly owned 40,913 shares of the company’s stock, valued at $8,244,787.76. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Hodges Raborn sold 500 shares of the business’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 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 owned by insiders.

Wall Street Analysts Forecast Growth

ALG has been the subject of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a research note on Tuesday. Wall Street Zen lowered Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday.

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.