Alamo Group Inc. (NYSE:ALG) Position Raised by Hodges Capital Management Inc.
Hodges Capital Management Inc. increased its stake in Alamo Group Inc. (NYSE:ALG) by 21.0% during Q2, acquiring an additional 6,950 shares, bringing their total to 40,003 shares valued at $2,921,000. Other institutional investors also raised their holdings. Meanwhile, Alamo Group shares experienced fluctuations, with a recent price of $85.08, a market cap of $1.15 billion, and a PE ratio of 15.93. The company reported a quarterly EPS of $0.35, missing estimates, and recently declared a $0.26 dividend. Insiders have also sold shares amid these changes.
Hodges Capital Management Inc. lifted its position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 21.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,003 shares of the industrial products company's stock after acquiring an additional 6,950 shares during the period. Hodges Capital Management Inc. owned 0.33% of Alamo Group worth $6,921,000 as of its most recent filing with the SEC.
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Other institutional investors have also modified their holdings of the company. Guidance Capital Inc. boosted its stake in Alamo Group by 12.5% during the 2nd quarter. Guidance Capital Inc. now owns 2,348 shares of the industrial products company's stock valued at $406,000 after purchasing an additional 261 shares during the period. Natixis Advisors LLC raised its holdings in shares of Alamo Group by 17.7% during the second quarter. Natixis Advisors LLC now owns 77,310 shares of the industrial products company's stock valued at $13,375,000 after buying an additional 11,618 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Alamo Group during the second quarter worth approximately $52,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Alamo Group during the second quarter worth approximately $948,000. Finally, Panagora Asset Management Inc. grew its holdings in Alamo Group by 5.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 15,904 shares of the industrial products company's stock worth $2,751,000 after buying an additional 882 shares in the last quarter. Institutional investors own 92.36% of the company's stock.
Insiders Place Their Bets
In related news, EVP Edward Rizzuti sold 322 shares of the 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 completion of the sale, the executive vice president now directly owns 7,765 shares of the company's stock, valued at $1,384,421.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Richard Hodges Raborn sold 300 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following 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 company insiders.
Alamo Group Price Performance
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Shares of Alamo Group stock traded down $0.82 on Wednesday, hitting $178.08. The company had a trading volume of 3,802 shares, compared to its average volume of 73,717. Alamo Group Inc. has a 52 week low of $157.74 and a 52 week high of $231.40. The company has a market cap of $2.15 billion, a PE ratio of 15.93 and a beta of 1.04. The business has a 50-day simple moving average of $177.87 and a 200-day simple moving average of $192.65. 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 (NYSE:ALG - Get Free Report) 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 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 firm had revenue of $416.30 million for the quarter. During the same period in the prior year, the firm posted $3.03 earnings per share. Research analysts expect that Alamo Group Inc. will post 10.23 EPS for the current fiscal year.
Alamo Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.58%. The ex-dividend date was Tuesday, July 16th. Alamo Group's dividend payout ratio (DPR) is presently 9.25%.
Analysts Set New Price Targets
Several analysts have weighed in on ALG shares. StockNews.com downgraded Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. DA Davidson lifted their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Finally, Robert W. Baird reduced their price objective on shares of Alamo Group from $223.00 to $217.00 and set an "outperform" rating for the company in a report on Friday, August 2nd.
Get Our Latest Report on ALG
Alamo Group Company Profile
(Free Report)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.
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