Alberta Investment Management Corp Sells 1,424 Shares of Alamo Group, Inc. (NYSE:ALG)

Key Points

• Alberta Investment Management Corp has reduced its stake in Alamo Group, Inc. by 30.4%, selling 1,424 shares, and now holds 3,254 shares valued at approximately $580,000.
• CEO Jeffery Allen Leonard sold 3,500 shares on May 14th, decreasing his ownership by 7.88% and resulting in a value of about $8.24 million for the remaining shares.
• Analysts have mixed opinions on Alamo Group, with Robert W. Baird upgrading it to "outperform" and setting a target price of $260.00, while other analysts maintain a "neutral" rating.

Alberta Investment Management Corp decreased its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 30.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,254 shares of the industrial products company's stock after selling 1,424 shares during the period. Alberta Investment Management Corp's holdings in Alamo Group were worth $580,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of 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 purchasing an additional 72 shares during the last quarter. GAMMA Investing LLC raised its stake in Alamo Group by 110.6% during the 1st 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 last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after buying an additional 61 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Alamo Group in the 4th quarter worth $79,000. Finally, CWM LLC grew its holdings in shares of Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company's stock worth $175,000 after acquiring an additional 823 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer directly owned 40,913 shares in the company, valued at $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the sale, the executive vice president owned 12,948 shares of the company's stock, valued at $2,613,424.32. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Alamo Group Stock Performance

NYSE:ALG traded down $2.78 during mid-day trading on Thursday, hitting $221.99. 157,147 shares of the company traded hands, compared to its average volume of 113,537. The stock's fifty day moving average price is $216.26 and its 200-day moving average price is $193.87. The company has a quick ratio of 2.62, a current ratio of 4.30 and a debt-to-equity ratio of 0.19. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $230.15. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The firm had revenue of $419.07 million for the quarter, compared to the consensus estimate of $406.75 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. Research analysts anticipate 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 was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio is presently 12.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday. Wall Street Zen cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $209.00 to $260.00 in a report on Monday. Finally, DA Davidson reaffirmed a "neutral" rating and set a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd.

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.