Squarepoint Ops LLC Raises Stake in Alamo Group Inc. (NYSE:ALG)

Squarepoint Ops LLC increased its stake in shares of Alamo Group Inc. (NYSE:ALG) by 366.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,928 shares of the industrial products company’s stock after buying an additional 16,437 shares during the period. Squarepoint Ops LLC’s holdings in Alamo Group were worth $3,621,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Contravisory Investment Management Inc. increased its stake in shares of 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 purchasing an additional 47 shares during the last quarter. First Horizon Advisors Inc. grew its holdings 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 valued at $43,000 after purchasing an additional 159 shares during the period. nVerses Capital LLC purchased a new stake in Alamo Group in the second quarter worth $52,000. Bessemer Group Inc. raised its stake in shares of Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after buying an additional 264 shares during the period. Finally, MQS Management LLC purchased a new position in shares of Alamo Group during the 1st quarter valued at $235,000. Institutional investors own 92.36% of the company’s stock.

Insiders Place Their Bets

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

Alamo Group Stock Performance

Shares of ALG opened at $176.44 on Wednesday. The stock’s 50-day simple moving average is $179.67 and its 200 day simple moving average is $188.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 15.70 and a beta of 1.07.

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). 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 during the quarter. During the same quarter in the previous year, the business earned $3.03 EPS. Research analysts forecast that Alamo Group Inc. will post 10.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. DA Davidson boosted 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. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird cut their price objective 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.

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.