Alamo Group Inc. (NYSE:ALG) Stock Position Lifted by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Alamo Group Inc. (NYSE:ALG) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,204 shares of the industrial products company’s stock after buying an additional 175 shares during the quarter. Bank of Montreal Can’s holdings in Alamo Group were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its position in Alamo Group by 7.5% in the second quarter. Public Sector Pension Investment Board now owns 22,762 shares of the industrial products company’s stock worth $3,938,000 after buying an additional 1,579 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Alamo Group by 17.1% in 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 purchasing an additional 50,327 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Alamo Group by 34.9% in the second quarter. Sei Investments Co. now owns 16,594 shares of the industrial products company’s stock valued at $2,872,000 after purchasing an additional 4,294 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of Alamo Group by 1.0% in the second quarter. King Luther Capital Management Corp now owns 44,588 shares of the industrial products company’s stock worth $7,714,000 after buying an additional 430 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Alamo Group by 57.6% during the second quarter. XTX Topco Ltd now owns 3,194 shares of the industrial products company’s stock valued at $553,000 after buying an additional 1,167 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Edward Rizzuti sold 322 shares of the firm’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 completion of the sale, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the business’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 transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. The trade was 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 currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALG. 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 research report on Wednesday, August 28th. Robert W. Baird dropped their target price on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Price Performance

Shares of ALG stock opened at $171.61 on Friday. The stock’s fifty day simple moving average is $177.40 and its 200 day simple moving average is $187.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 15.28 and a beta of 1.06.

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

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.61%. Alamo Group’s dividend payout ratio is 9.25%.

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.