Alamo Group Inc. (NYSE:ALG) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in shares of Alamo Group Inc. (NYSE:ALG) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,588 shares of the industrial products company’s stock after buying an additional 430 shares during the quarter. King Luther Capital Management Corp owned about 0.37% of Alamo Group worth $7,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. XTX Topco Ltd grew its stake in shares of Alamo Group by 57.6% in the 2nd quarter. XTX Topco Ltd now owns 3,194 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 1,167 shares during the last quarter. Edgestream Partners L.P. grew its position in Alamo Group by 579.3% in the second quarter. Edgestream Partners L.P. now owns 31,749 shares of the industrial products company’s stock worth $5,493,000 after buying an additional 27,075 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Alamo Group in the second quarter valued at $4,290,000. Envestnet Asset Management Inc. lifted its position in shares of Alamo Group by 126.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 20,035 shares of the industrial products company’s stock valued at $3,466,000 after acquiring an additional 11,206 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Alamo Group during the 2nd quarter valued at $776,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of Alamo Group 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 transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Alamo Group Stock Performance

ALG stock opened at $181.15 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 16.12 and a beta of 1.07. The firm has a 50 day moving average of $180.02 and a two-hundred day moving average of $189.83. 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 12 month low of $157.74 and a 12 month high of $231.40.

Alamo Group (NYSE:ALG) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The company had revenue of $416.30 million during the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same quarter last year, the firm earned $3.03 earnings per share. As a group, equities analysts anticipate that Alamo Group Inc. will post 10.23 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, July 16th. Alamo Group’s dividend payout ratio is currently 9.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. DA Davidson lifted their price target on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird reduced 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.

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.