GW&K Investment Management LLC cut its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,226 shares of the industrial products company’s stock after selling 35,695 shares during the quarter. GW&K Investment Management LLC owned about 1.68% of Alamo Group worth $22,035,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Alamo Group in the third quarter valued at $111,000. Pinebridge Investments L.P. boosted its holdings in Alamo Group by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 17 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Alamo Group in the third quarter valued at $210,000. Piedmont Investment Advisors LLC purchased a new stake in Alamo Group in the third quarter valued at $223,000. Finally, Miles Capital Inc. purchased a new stake in Alamo Group in the second quarter valued at $224,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the company a “buy” rating in a report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $105.00.
In other Alamo Group news, EVP Richard Hodges Raborn sold 2,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $111.53, for a total value of $223,060.00. Following the completion of the transaction, the executive vice president now owns 4,500 shares in the company, valued at $501,885. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.99% of the company’s stock.
Alamo Group, Inc. (NYSE:ALG) opened at $118.43 on Friday. The firm has a market cap of $1,377.58, a PE ratio of 28.40 and a beta of 0.96. Alamo Group, Inc. has a 1 year low of $70.53 and a 1 year high of $119.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.48 and a quick ratio of 2.85.
Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.16. The business had revenue of $240.46 million during the quarter, compared to the consensus estimate of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. sell-side analysts expect that Alamo Group, Inc. will post 4.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Tuesday, January 16th will be given a $0.11 dividend. The ex-dividend date is Friday, January 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.37%. This is an increase from Alamo Group’s previous quarterly dividend of $0.10. Alamo Group’s dividend payout ratio is 10.55%.
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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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