Bank of New York Mellon Corp Trims Stock Position in Alamo Group, Inc. (NYSE:ALG)

Bank of New York Mellon Corp lessened its position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,509 shares of the industrial products company's stock after selling 3,229 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Alamo Group worth $14,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALG. Parallel Advisors LLC grew its position in Alamo Group by 80.0% during the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after buying an additional 72 shares during the period. GAMMA Investing LLC grew its position in Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after buying an additional 125 shares during the period. Lazard Asset Management LLC acquired a new stake in Alamo Group during the fourth quarter valued at $79,000. Summit Investment Advisors Inc. grew its position in Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after buying an additional 69 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Alamo Group during the fourth quarter valued at $200,000. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Price Performance

ALG traded up $0.99 during midday trading on Tuesday, hitting $217.03. 31,275 shares of the company traded hands, compared to its average volume of 101,954. The company has a current ratio of 4.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 22.61 and a beta of 1.08. Alamo Group, Inc. has a 52-week low of $157.07 and a 52-week high of $230.16. The business has a 50 day simple moving average of $211.84 and a two-hundred day simple moving average of $190.54.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.32. The business had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. On average, equities analysts forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALG shares. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. DA Davidson restated a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a research report on Tuesday.

Insider Activity

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

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.