Alamo Group, Inc. $ALG Shares Sold by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC has reduced its holdings in Alamo Group, Inc. by 17.6%, owning 15,978 shares valued at approximately $3.49 million after selling 3,424 shares in the 2nd quarter.
• CEO Jeffery Allen Leonard sold 2,500 shares at an average price of $222.19, reducing his ownership in the company by 6.11%, with his total shares now valued at over $8.5 million.
• Analysts have given Alamo Group a consensus rating of "Buy", with a target price averaging $234.00, after various upgrades including an increase from a "neutral" to a "strong-buy" rating by Robert W. Baird.

Wedge Capital Management L L P NC trimmed its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 17.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,978 shares of the industrial products company's stock after selling 3,424 shares during the period. Wedge Capital Management L L P NC owned about 0.13% of Alamo Group worth $3,489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ALG. Nisa Investment Advisors LLC grew its position in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 65 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after acquiring an additional 72 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Alamo Group by 4.1% during the first quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock valued at $448,000 after buying an additional 100 shares during the period. Finally, Heritage Family Offices LLP boosted its stake in shares of Alamo Group by 8.3% during the first quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Stock Performance

ALG traded down $0.17 during trading on Monday, hitting $198.29. The company's stock had a trading volume of 98,232 shares, compared to its average volume of 79,296. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $233.29. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The business's 50 day simple moving average is $215.53 and its 200-day simple moving average is $200.97. The firm has a market cap of $2.40 billion, a PE ratio of 20.19, a P/E/G ratio of 1.04 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. As a group, sell-side analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALG shares. DA Davidson reissued a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Alamo Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and raised their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, Baird R W upgraded shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Alamo Group has a consensus rating of "Buy" and a consensus price target of $234.00.

Insider Buying and Selling

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the company's stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is currently owned by corporate insiders.

Alamo Group Company 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.