Fmr LLC lowered its position in shares of Alamo Group, Inc. (NYSE:ALG) by 27.2% during the first quarter, Holdings Channel reports. The firm owned 2,682 shares of the industrial products company’s stock after selling 1,000 shares during the period. Fmr LLC’s holdings in Alamo Group were worth $204,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in shares of Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock worth $130,000 after buying an additional 156 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Alamo Group during the fourth quarter worth about $156,000. Mason Street Advisors LLC increased its position in shares of Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock worth $168,000 after buying an additional 144 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Alamo Group during the first quarter worth about $207,000. Finally, Strs Ohio purchased a new position in shares of Alamo Group during the first quarter worth about $251,000. 88.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alamo Group, Inc. (NYSE ALG) opened at 92.11 on Thursday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 23.68 and a beta of 0.95. The company has a 50-day moving average of $92.23 and a 200 day moving average of $82.59. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $95.62.
Alamo Group (NYSE:ALG) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, meeting analysts’ consensus estimates of $1.05. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. The company had revenue of $213.28 million during the quarter, compared to the consensus estimate of $217.90 million. On average, equities analysts forecast that Alamo Group, Inc. will post $4.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 17th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, July 13th. Alamo Group’s dividend payout ratio (DPR) is presently 10.28%.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. Seaport Global Securities lifted their price objective on shares of Alamo Group from $71.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, May 8th. BidaskClub upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of Alamo Group in a research note on Friday, July 14th.
In related news, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the sale, the director now owns 1,325 shares in the company, valued at approximately $122,138.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dan Edward Malone sold 950 shares of Alamo Group stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $90.75, for a total value of $86,212.50. Following the sale, the vice president now owns 11,950 shares of the company’s stock, valued at approximately $1,084,462.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,235 shares of company stock valued at $379,648 in the last ninety days. Corporate insiders own 3.99% of the company’s stock.
About Alamo Group
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. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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