Harbor Capital Advisors Inc. Reduces Stock Holdings in Alamo Group, Inc. $ALG

Harbor Capital Advisors Inc. lowered its stake in Alamo Group, Inc. (NYSE:ALG) by 71.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,890 shares of the industrial products company’s stock after selling 34,365 shares during the period. Harbor Capital Advisors Inc. owned 0.11% of Alamo Group worth $2,652,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its stake in shares of Alamo Group by 1.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 16,176 shares of the industrial products company’s stock valued at $3,088,000 after purchasing an additional 198 shares in the last quarter. Heritage Family Offices LLP lifted its holdings in Alamo Group by 8.5% in the third quarter. Heritage Family Offices LLP now owns 1,474 shares of the industrial products company’s stock worth $281,000 after buying an additional 116 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Alamo Group by 33.8% in the second quarter. Texas Permanent School Fund Corp now owns 7,380 shares of the industrial products company’s stock worth $1,612,000 after buying an additional 1,864 shares during the period. Public Sector Pension Investment Board boosted its position in Alamo Group by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 35,408 shares of the industrial products company’s stock valued at $7,732,000 after acquiring an additional 2,528 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Alamo Group during the 2nd quarter worth approximately $225,000. 92.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. DA Davidson decreased their price target on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.33.

Insiders Place Their Bets

In other Alamo Group news, CEO Robert Paul Hureau purchased 600 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $167.77 per share, for a total transaction of $100,662.00. Following the purchase, the chief executive officer directly owned 11,588 shares of the company’s stock, valued at $1,944,118.76. The trade was a 5.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 1,058 shares of company stock valued at $175,209 in the last 90 days. 1.18% of the stock is currently owned by company insiders.

Alamo Group Trading Up 0.0%

Alamo Group stock opened at $173.61 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72. The stock has a market capitalization of $2.10 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.13 and a beta of 1.13. The business’s fifty day moving average is $171.05 and its 200 day moving average is $197.34. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.27). Alamo Group had a return on equity of 11.11% and a net margin of 7.20%.The company had revenue of $420.04 million during the quarter, compared to the consensus estimate of $407.55 million. On average, sell-side analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, October 15th. Alamo Group’s dividend payout ratio is 12.45%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.