Wedge Capital Management L L P NC maintained its 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 fund owned 18,359 shares of the company’s stock at the end of the second quarter. Wedge Capital Management L L P NC’s holdings in Alamo Group were worth $1,211,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of ALG. Acadian Asset Management LLC purchased a new position in shares of Alamo Group during the second quarter worth approximately $108,000. Aperio Group LLC raised its stake in shares of Alamo Group by 41.1% in the first quarter. Aperio Group LLC now owns 6,143 shares of the company’s stock worth $342,000 after buying an additional 1,788 shares during the period. Hancock Holding Co. raised its stake in shares of Alamo Group by 1.1% in the first quarter. Hancock Holding Co. now owns 202,186 shares of the company’s stock worth $11,264,000 after buying an additional 2,123 shares during the period. James Investment Research Inc. raised its stake in shares of Alamo Group by 21.5% in the second quarter. James Investment Research Inc. now owns 15,788 shares of the company’s stock worth $1,042,000 after buying an additional 2,790 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Alamo Group during the second quarter worth about $193,000. Hedge funds and other institutional investors own 92.76% of the company’s stock.
Shares of Alamo Group Inc. (NYSE:ALG) traded up 0.25% during midday trading on Tuesday, hitting $65.31. 19,434 shares of the company were exchanged. Alamo Group Inc. has a one year low of $45.20 and a one year high of $68.04. The stock has a market cap of $750.93 million, a PE ratio of 16.58 and a beta of 0.92. The stock’s 50-day moving average is $64.81 and its 200-day moving average is $62.13.
Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by $0.09. Alamo Group had a net margin of 5.16% and a return on equity of 12.34%. The company earned $211.50 million during the quarter, compared to the consensus estimate of $219.74 million. Equities research analysts anticipate that Alamo Group Inc. will post $3.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, October 12th. Alamo Group’s dividend payout ratio (DPR) is presently 9.14%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Alamo Group from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Piper Jaffray Cos. restated an “overweight” rating and issued a $70.00 target price (up previously from $68.00) on shares of Alamo Group in a research note on Wednesday, August 10th.
In other Alamo Group news, VP Richard J. Wehrle sold 2,500 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $63.59, for a total value of $158,975.00. Following the completion of the sale, the vice president now directly owns 11,649 shares of the company’s stock, valued at approximately $740,759.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.63% of the stock is currently owned by company insiders.
Alamo Group Company Profile
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. Its products include tractor-mounted mowing and other vegetation maintenance equipment, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts and services.
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