Millennium Management LLC Purchases 3,904 Shares of Alamo Group Inc. (NYSE:ALG)

Millennium Management LLC boosted its position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 19.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,024 shares of the industrial products company's stock after purchasing an additional 3,904 shares during the period. Millennium Management LLC owned about 0.20% of Alamo Group worth $4,466,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 168 shares during the last quarter. Barclays PLC lifted its holdings in Alamo Group by 204.7% during the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock valued at $4,039,000 after purchasing an additional 15,061 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alamo Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock worth $26,222,000 after acquiring an additional 6,666 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Alamo Group by 63.9% in the fourth quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company's stock worth $819,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Alamo Group by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company's stock worth $10,585,000 after acquiring an additional 2,200 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Alamo Group Trading Up 0.1%

Shares of ALG traded up $0.26 on Monday, reaching $198.30. 26,599 shares of the company's stock were exchanged, compared to its average volume of 95,173. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.40 billion, a P/E ratio of 19.97 and a beta of 1.02. The business has a 50 day moving average price of $180.24 and a two-hundred day moving average price of $184.89. Alamo Group Inc. has a 12 month low of $157.07 and a 12 month high of $205.62.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Research analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio (DPR) is presently 12.50%.

Insider Activity

In other news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total value of $100,920.00. Following the sale, the executive vice president now owns 12,948 shares of the company's stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the sale, the chief executive officer now directly owns 40,913 shares in the company, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALG. Baird R W downgraded shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. DA Davidson dropped their target price on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a research note on Monday, March 3rd.

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.