Alamo Group, Inc. $ALG Stock: Vest Financial LLC Reduces Holdings

Key Points

• Vest Financial LLC cut its Alamo Group position by 27% in the third quarter, selling 7,592 shares and retaining 20,491 shares worth approximately $3.17 million. Institutional investors collectively own 92.36% of the company.
• Alamo Group reported quarterly EPS of $2.82, exceeding estimates of $2.74, while revenue of $450.73 million also topped expectations. Analysts expect full-year EPS of approximately $10.52.
• ALG shares opened at $146.03, near their 52-week low, while analysts maintain a “Moderate Buy” consensus with an average price target of $188. The company also announced a quarterly dividend of $0.34 per share, representing a 0.9% yield.

Vest Financial LLC trimmed its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 27.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,491 shares of the industrial products company's stock after selling 7,592 shares during the period. Vest Financial LLC owned approximately 0.17% of Alamo Group worth $3,171,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Axxcess Wealth Management LLC bought a new stake in shares of Alamo Group in the 3rd quarter valued at about $227,000. Quadrant Capital Group LLC grew its holdings in Alamo Group by 9.6% during the third quarter. Quadrant Capital Group LLC now owns 2,410 shares of the industrial products company's stock worth $374,000 after purchasing an additional 211 shares during the period. Fortitude Family Office LLC increased its position in Alamo Group by 9,760.0% during the third quarter. Fortitude Family Office LLC now owns 493 shares of the industrial products company's stock worth $76,000 after buying an additional 488 shares during the last quarter. GAMMA Investing LLC increased its position in Alamo Group by 183.3% during the third quarter. GAMMA Investing LLC now owns 170 shares of the industrial products company's stock worth $26,000 after buying an additional 110 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Alamo Group by 501.8% during the third quarter. Farther Finance Advisors LLC now owns 981 shares of the industrial products company's stock worth $152,000 after buying an additional 818 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Down 0.8%

Shares of ALG opened at $146.03 on Friday. Alamo Group, Inc. has a 52 week low of $144.34 and a 52 week high of $219.88. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. The stock has a fifty day moving average of $161.36 and a 200-day moving average of $162.00.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.74 by $0.08. The business had revenue of $450.73 million during the quarter, compared to analyst estimates of $437.48 million. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. As a group, sell-side analysts anticipate that Alamo Group, Inc. will post 10.52 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, October 15th. Alamo Group's dividend payout ratio (DPR) is 16.31%.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 2,537 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $174.68, for a total transaction of $443,163.16. Following the completion of the sale, the executive vice president owned 5,605 shares of the company's stock, valued at approximately $979,081.40. This represents a 31.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALG. Weiss Ratings downgraded shares of Alamo Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 2nd. DA Davidson reiterated a "neutral" rating and issued a $188.00 price target on shares of Alamo Group in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alamo Group presently has a consensus rating of "Moderate Buy" and an average price target of $188.00.

Alamo Group Profile

Alamo Group Inc NYSE: ALG manufactures equipment used in the maintenance of infrastructure, vegetation, and agricultural land. Its products are primarily sold to municipalities, government agencies, contractors, utility companies, transportation departments, and agricultural customers.

The company's product portfolio includes mowing and vegetation-management equipment, street sweepers, snow-removal equipment, vacuum trucks, excavators, agricultural implements, and other specialized machinery.

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