Renaissance Technologies LLC Acquires Shares of 24,800 Alamo Group Inc. (NYSE:ALG)

Renaissance Technologies LLC bought a new position in shares of Alamo Group Inc. (NYSE:ALG) in the second quarter, HoldingsChannel reports. The firm bought 24,800 shares of the industrial products company’s stock, valued at approximately $4,290,000.

Several other hedge funds have also modified their holdings of ALG. Quadrature Capital Ltd raised its position in Alamo Group by 62.4% in the fourth quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock worth $4,002,000 after acquiring an additional 7,311 shares in the last quarter. RK Capital Management LLC increased its holdings in shares of Alamo Group by 81.2% in the 4th quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock valued at $11,405,000 after purchasing an additional 24,310 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Alamo Group in the first quarter valued at about $1,067,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Alamo Group by 16.3% in 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 purchasing an additional 52,250 shares during the period. Finally, Janus Henderson Group PLC grew its position in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Alamo Group Stock Performance

NYSE:ALG opened at $181.09 on Friday. 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 has a market capitalization of $2.18 billion, a P/E ratio of 16.11 and a beta of 1.07. The firm has a 50-day moving average price of $179.79 and a two-hundred day moving average price of $189.03. Alamo Group Inc. has a twelve month low of $157.74 and a twelve month high of $231.40.

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

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. Alamo Group’s dividend payout ratio (DPR) is 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.