Westwood Holdings Group Inc. Acquires 50,327 Shares of Alamo Group Inc. (NYSE:ALG)

Westwood Holdings Group Inc. grew its holdings in Alamo Group Inc. (NYSE:ALG) by 17.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,713 shares of the industrial products company’s stock after acquiring an additional 50,327 shares during the quarter. Westwood Holdings Group Inc. owned 2.86% of Alamo Group worth $59,635,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alamo Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after buying an additional 7,121 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 48.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after purchasing an additional 193,463 shares during the period. Victory Capital Management Inc. raised its stake in shares of Alamo Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after purchasing an additional 33,190 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Alamo Group by 16.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after purchasing an additional 52,250 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALG. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson increased their target price on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird lowered their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd.

Alamo Group Stock Performance

ALG opened at $181.15 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The business’s 50-day simple moving average is $180.02 and its 200 day simple moving average is $189.83. The firm has a market capitalization of $2.18 billion, a PE ratio of 16.12 and a beta of 1.07. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $3.03 earnings per share. As a group, sell-side analysts expect that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

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

Insiders Place Their Bets

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

About Alamo Group

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.