Alamo Group Inc. (NYSE:ALG) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its position in shares of Alamo Group Inc. (NYSE:ALG) by 543.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,211 shares of the industrial products company’s stock after purchasing an additional 23,829 shares during the period. Millennium Management LLC’s holdings in Alamo Group were worth $4,881,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Alamo Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after buying an additional 7,121 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of Alamo Group by 62.4% in the 4th quarter. Quadrature Capital Ltd now owns 19,021 shares of the industrial products company’s stock valued at $4,002,000 after purchasing an additional 7,311 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the last quarter. Guidance Capital Inc. boosted its holdings in shares of Alamo Group by 29.8% in the 1st quarter. Guidance Capital Inc. now owns 2,087 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 479 shares during the last quarter. Finally, 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 purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. 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 NYSE ALG opened at $177.01 on Friday. The business’s 50-day moving average price is $177.17 and its two-hundred day moving average price is $186.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The company has a market capitalization of $2.13 billion, a P/E ratio of 15.75 and a beta of 1.06.

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 firm had revenue of $416.30 million for the quarter. During the same quarter last year, the company earned $3.03 EPS. Analysts anticipate that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s payout ratio is presently 9.25%.

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.