Cubist Systematic Strategies LLC Invests $643,000 in Alamo Group Inc. (NYSE:ALG)

Cubist Systematic Strategies LLC acquired a new position in Alamo Group Inc. (NYSE:ALG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 3,719 shares of the industrial products company’s stock, valued at approximately $643,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Alamo Group by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after purchasing an additional 7,121 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 worth $103,191,000 after buying an additional 193,463 shares in the last quarter. Victory Capital Management Inc. increased its stake in Alamo Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after buying an additional 33,190 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Alamo Group by 17.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after buying an additional 50,327 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Up 3.1 %

Shares of NYSE:ALG opened at $177.01 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. Alamo Group Inc. has a 12 month low of $157.74 and a 12 month high of $231.40. The company has a 50-day moving average price of $177.17 and a 200 day moving average price of $186.76. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 15.75 and a beta of 1.06.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The business had revenue of $416.30 million during the quarter. During the same period last year, the firm posted $3.03 earnings per share. As a group, equities research 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 declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s payout ratio is 9.25%.

Analysts Set New Price Targets

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

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 $2,005,138.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.