Alamo Group, Inc. $ALG Shares Sold by Northern Trust Corp

Northern Trust Corp lowered its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,340 shares of the industrial products company’s stock after selling 5,945 shares during the quarter. Northern Trust Corp owned about 1.33% of Alamo Group worth $28,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALG. Parallel Advisors LLC increased its holdings in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after buying an additional 72 shares during the period. GAMMA Investing LLC grew its stake in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 125 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 61 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Alamo Group during the 4th quarter worth approximately $79,000. Finally, CWM LLC grew its stake in shares of Alamo Group by 520.9% during the 1st quarter. CWM LLC now owns 981 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 823 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of Alamo Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the transaction, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

Alamo Group Trading Down 1.8%

Shares of ALG stock opened at $211.07 on Friday. The stock’s fifty day moving average is $220.54 and its two-hundred day moving average is $198.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. The firm has a market capitalization of $2.56 billion, a P/E ratio of 21.49, a PEG ratio of 1.10 and a beta of 1.10. Alamo Group, Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $233.29.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The company had revenue of $419.07 million for the quarter, compared to analysts’ expectations of $406.75 million. Research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group’s payout ratio is currently 12.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. Robert W. Baird upgraded Alamo Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Baird R W upgraded Alamo Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 4th. Finally, DA Davidson reiterated a “neutral” rating and set a $225.00 target price on shares of Alamo Group in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Alamo Group has a consensus rating of “Buy” and a consensus price target of $234.00.

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.