Westwood Holdings Group Inc. Has $59.64 Million Holdings in Alamo Group Inc. (NYSE:ALG)

Westwood Holdings Group Inc. grew its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 17.1% during the second quarter, HoldingsChannel.com reports. The firm owned 344,713 shares of the industrial products company’s stock after acquiring an additional 50,327 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Alamo Group were worth $59,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. increased its stake in Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares during the period. Quest Partners LLC acquired a new position in Alamo Group in the fourth quarter valued at about $52,000. First Horizon Advisors Inc. lifted its position in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 159 shares during the period. Bessemer Group Inc. grew its stake in Alamo Group by 1,885.7% during the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after buying an additional 264 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Alamo Group during the second quarter worth about $52,000. 92.36% of the stock is owned by institutional investors.

Insider Transactions at Alamo Group

In related 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 sale, the executive vice president now directly 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 accessible through the SEC website. In related news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction 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 disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Alamo Group Trading Down 2.0 %

ALG opened at $181.15 on Friday. The company has a market cap of $2.18 billion, a P/E ratio of 16.12 and a beta of 1.07. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $180.02 and its 200-day moving average is $189.83. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40.

Alamo Group (NYSE:ALG) last announced 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). The company had revenue of $416.30 million for the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same period in the previous year, the business earned $3.03 EPS. Equities research analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.