Azzad Asset Management Inc. ADV Trims Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Azzad Asset Management Inc. ADV lowered its holdings in Alamo Group Inc. (NYSE:ALG) by 25.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,096 shares of the industrial products company’s stock after selling 1,382 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Alamo Group were worth $738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Alamo Group by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after purchasing an additional 7,121 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Alamo Group by 48.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock valued at $103,191,000 after buying an additional 193,463 shares in the last quarter. Victory Capital Management Inc. raised its stake in Alamo Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after buying an additional 33,190 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Alamo Group by 16.3% during 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 buying an additional 52,250 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Alamo Group by 17.1% during the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after buying an additional 50,327 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 1.8 %

Shares of Alamo Group stock opened at $172.30 on Wednesday. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $178.16 and its 200-day simple moving average is $187.54. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.33 and a beta of 1.06. Alamo Group Inc. has a twelve month low of $157.74 and a twelve month high of $231.40.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results 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 for the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same quarter last year, the firm earned $3.03 EPS. Equities research analysts forecast that Alamo Group Inc. will post 10.23 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.60%. The ex-dividend date is Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 9.25%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALG. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird cut their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, DA Davidson upped their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the firm’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 sale, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Richard Hodges Raborn sold 300 shares of the firm’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 sale, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 owns 7,765 shares in the company, valued at approximately $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.