1,434 Shares in Alamo Group Inc. (NYSE:ALG) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,434 shares of the industrial products company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALG. Contravisory Investment Management Inc. grew its holdings in shares of Alamo Group by 73.4% in the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares during the period. Quest Partners LLC purchased a new position in Alamo Group in the fourth quarter worth about $52,000. First Horizon Advisors Inc. grew its stake in shares of Alamo Group by 174.7% during the 2nd 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. Bessemer Group Inc. increased its position in shares of Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Alamo Group during the 2nd quarter valued at about $52,000. 92.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Alamo Group

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 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 directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alamo Group 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 value of $54,384.00. Following the completion of the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Rizzuti sold 322 shares of Alamo Group 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 sale, the executive vice president now owns 7,765 shares in the company, valued at approximately $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 Stock Up 1.2 %

NYSE ALG opened at $180.37 on Friday. Alamo Group Inc. has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.17 billion, a P/E ratio of 16.04 and a beta of 1.07. The stock’s 50-day moving average price is $179.93 and its 200-day moving average price is $189.24.

Alamo Group (NYSE:ALG) last released its 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 return on equity of 13.51% and a net margin of 7.56%. The firm had revenue of $416.30 million during the quarter. During the same period last year, the company earned $3.03 earnings per share. On average, equities research analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.58%. Alamo Group’s payout ratio 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.