Quest Partners LLC Has $39,000 Stock Position in Alamo Group Inc. (NYSE:ALG)

Quest Partners LLC lessened its stake in Alamo Group Inc. (NYSE:ALG) by 92.9% in the second quarter, Holdings Channel reports. The firm owned 227 shares of the industrial products company’s stock after selling 2,949 shares during the quarter. Quest Partners LLC’s holdings in Alamo Group were worth $39,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 in the last quarter. Shaker Investments LLC OH boosted its stake in Alamo Group by 1.5% in the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock valued at $911,000 after buying an additional 58 shares in the last quarter. Arizona State Retirement System grew its position in Alamo Group by 2.1% in the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 63 shares during the last quarter. Diversified Trust Co grew its position in Alamo Group by 5.2% in the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 72 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Alamo Group by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock worth $900,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALG shares. Robert W. Baird decreased their price target 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. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, DA Davidson upped their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Alamo Group Stock Performance

NYSE:ALG opened at $184.81 on Friday. The stock’s 50-day moving average is $179.86 and its 200-day moving average is $189.99. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. 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 stock has a market cap of $2.23 billion, a P/E ratio of 16.44 and a beta of 1.07.

Alamo Group (NYSE:ALG) last posted its earnings results 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 quarter last year, the firm earned $3.03 earnings per share. Equities research analysts anticipate that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors 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 yield of 0.56%. Alamo Group’s payout ratio is 9.25%.

Insider Buying and Selling

In other news, 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the business’s 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 directly owns 7,765 shares in the company, valued at $1,384,421.85. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.