King Luther Capital Management Corp Has $7.71 Million Stock Holdings in Alamo Group Inc. (NYSE:ALG)

King Luther Capital Management Corp increased its stake in shares of Alamo Group Inc. (NYSE:ALG) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,588 shares of the industrial products company’s stock after buying an additional 430 shares during the period. King Luther Capital Management Corp’s holdings in Alamo Group were worth $7,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ALG. Vanguard Group Inc. increased its holdings in shares of Alamo Group by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after purchasing an additional 7,121 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Alamo Group by 48.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock valued at $103,191,000 after buying an additional 193,463 shares during the period. Victory Capital Management Inc. raised its position in shares of Alamo Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after acquiring an additional 33,190 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 16.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after acquiring an additional 52,250 shares during the period. Finally, Janus Henderson Group PLC increased its position in Alamo Group by 42.4% in the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after purchasing an additional 51,292 shares during the period. Institutional investors own 92.36% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Richard Hodges Raborn sold 300 shares of the business’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 sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $181.15 on Friday. The stock has a market cap of $2.18 billion, a P/E ratio of 16.12 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 stock’s 50-day moving average price is $180.02 and its two-hundred day moving average price is $189.83. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The firm had revenue of $416.30 million for the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same period in the prior year, the company posted $3.03 EPS. On average, equities analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, July 16th. Alamo Group’s payout ratio is presently 9.25%.

Wall Street Analysts Forecast Growth

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

Alamo Group Company 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.