Los Angeles Capital Management LLC Reduces Stock Position in Alamo Group Inc. (NYSE:ALG)

Los Angeles Capital Management LLC trimmed its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 41.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,181 shares of the industrial products company’s stock after selling 3,665 shares during the period. Los Angeles Capital Management LLC’s holdings in Alamo Group were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Contravisory Investment Management Inc. lifted its stake in Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares during the last quarter. Shaker Investments LLC OH raised its holdings in Alamo Group by 1.5% during the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock worth $911,000 after purchasing an additional 58 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Alamo Group by 5.2% in the 1st quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after buying an additional 72 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Alamo Group by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after buying an additional 100 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ALG. Robert W. Baird decreased their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson lifted their price target on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th.

Insider Activity at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the transaction, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Alamo Group Trading Up 0.9 %

Shares of Alamo Group stock opened at $175.69 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The company has a market capitalization of $2.12 billion, a P/E ratio of 15.63 and a beta of 1.07. Alamo Group Inc. has a 1 year low of $157.74 and a 1 year high of $231.40. The company’s fifty day moving average is $178.50 and its two-hundred day moving average is $190.73.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The company had revenue of $416.30 million during the quarter. During the same quarter in the previous year, the business earned $3.03 EPS. Analysts forecast that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, July 16th. Alamo Group’s dividend payout ratio is presently 9.25%.

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.