Cubist Systematic Strategies LLC Makes New Investment in Alamo Group Inc. (NYSE:ALG)

Cubist Systematic Strategies LLC bought a new position in shares of Alamo Group Inc. (NYSE:ALG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,719 shares of the industrial products company’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Contravisory Investment Management Inc. raised its holdings in shares of Alamo Group by 73.4% during the first 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 period. Arizona State Retirement System grew its position in shares of Alamo Group by 2.1% during the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 63 shares during the last quarter. Diversified Trust Co grew its position in shares of Alamo Group by 5.2% during the first quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 72 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of 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 during the last quarter. Finally, Aurora Investment Counsel grew its position in shares of Alamo Group by 2.0% during the first quarter. Aurora Investment Counsel now owns 5,657 shares of the industrial products company’s stock worth $1,292,000 after acquiring an additional 112 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Shares of ALG opened at $172.40 on Friday. The firm has a 50-day moving average price of $178.90 and a 200 day moving average price of $188.24. The firm has a market capitalization of $2.08 billion, a PE ratio of 15.34 and a beta of 1.07. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40.

Alamo Group (NYSE:ALG) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). The firm had revenue of $416.30 million for the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same quarter last year, the firm posted $3.03 earnings per share. On average, sell-side analysts anticipate that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.60%. Alamo Group’s dividend payout ratio is currently 9.25%.

Insider Buying and Selling

In other 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 transaction of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction on Monday, August 19th. The stock was 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 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALG. 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 research report on Wednesday, August 28th. Robert W. Baird lowered their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

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.