Bank of New York Mellon Corp Sells 3,229 Shares of Alamo Group, Inc. (NYSE:ALG)

Bank of New York Mellon Corp reduced its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,509 shares of the industrial products company's stock after selling 3,229 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Alamo Group worth $14,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALG. Raymond James Financial Inc. acquired a new stake in shares of Alamo Group during the fourth quarter worth $200,000. Swiss National Bank boosted its holdings in shares of Alamo Group by 0.5% during the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock worth $3,737,000 after purchasing an additional 100 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Alamo Group in the fourth quarter valued at $1,398,000. Intech Investment Management LLC boosted its holdings in 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 valued at $819,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Alamo Group by 32.1% during the fourth quarter. Teacher Retirement System of Texas now owns 37,408 shares of the industrial products company's stock worth $6,955,000 after purchasing an additional 9,087 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction dated 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 transaction, the chief executive officer owned 40,913 shares in the company, valued at approximately $8,244,787.76. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the transaction, the executive vice president directly owned 12,948 shares in the company, valued at approximately $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALG. DA Davidson reiterated a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a research report on Tuesday. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th.

Alamo Group Price Performance

Shares of ALG stock traded up $2.41 during trading hours on Wednesday, hitting $218.86. The company had a trading volume of 72,991 shares, compared to its average volume of 101,738. Alamo Group, Inc. has a 12 month low of $157.07 and a 12 month high of $230.16. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 22.80 and a beta of 1.08. The firm's fifty day moving average is $212.80 and its 200 day moving average is $191.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. On average, sell-side analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 16th. Alamo Group's dividend payout ratio (DPR) is currently 12.50%.

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.