Northern Trust Corp Sells 5,945 Shares of Alamo Group, Inc. $ALG

Key Points

• Northern Trust Corp reduced its ownership in Alamo Group, Inc. by 3.6% in Q1, now holding 161,340 shares worth approximately $28.75 million.
• Alamo Group's CEO sold 2,500 shares on August 22nd, decreasing his stake by 6.11%, now owning 38,413 shares valued at around $8.53 million.
• Despite a missed earnings estimate of $2.57 EPS for the quarter, Alamo Group's revenue surpassed expectations at $419.07 million, and analysts project 9.53 EPS for the current fiscal year.

Northern Trust Corp decreased its holdings in Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 161,340 shares of the industrial products company's stock after selling 5,945 shares during the quarter. Northern Trust Corp owned 1.33% of Alamo Group worth $28,752,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALG. Nuveen LLC bought a new position in Alamo Group during the first quarter valued at about $8,361,000. New York State Teachers Retirement System lifted its stake in Alamo Group by 4.1% in the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after acquiring an additional 100 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Alamo Group by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 58,673 shares of the industrial products company's stock worth $10,456,000 after purchasing an additional 1,737 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Alamo Group by 110.6% during the 1st quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Alamo Group by 4.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company's stock valued at $125,732,000 after acquiring an additional 26,835 shares in the last quarter. Institutional investors own 92.36% of the company's stock.

Alamo Group Price Performance

NYSE:ALG traded up $2.56 during trading hours on Thursday, hitting $210.41. 19,303 shares of the company's stock traded hands, compared to its average volume of 109,060. The business's fifty day simple moving average is $220.16 and its two-hundred day simple moving average is $198.72. Alamo Group, Inc. has a 52 week low of $157.07 and a 52 week high of $233.29. The firm has a market cap of $2.55 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.10 and a beta of 1.10. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. The business had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. On average, research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, July 16th. Alamo Group's payout ratio is 12.22%.

Analyst Ratings Changes

A number of research analysts have recently commented on ALG shares. DA Davidson reiterated a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. Wall Street Zen lowered Alamo Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. Finally, Robert W. Baird raised Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $234.00.

Insider Buying and Selling

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares of the company's stock, valued at $8,534,984.47. This represents a 6.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is owned by insiders.

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.