Allianz Asset Management GmbH Decreases Stock Holdings in Alamo Group, Inc. (NYSE:ALG)

Key Points

• Allianz Asset Management GmbH significantly cut its position in Alamo Group, Inc. by 65.4%, reducing its holdings to 2,690 shares worth $479,000.
• Insider trading was notable, with CEO Jeffery Allen Leonard and EVP Richard Hodges Raborn selling a combined total of 4,000 shares on May 14th, leading to decreases in their ownership stakes by 7.88% and 3.72%, respectively.
• Alamo Group reported a quarterly EPS of $2.65, exceeding analyst expectations of $2.33, and announced a quarterly dividend of $0.30, reflecting an annual yield of 0.6%.

Allianz Asset Management GmbH reduced its position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 65.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,690 shares of the industrial products company's stock after selling 5,093 shares during the period. Allianz Asset Management GmbH's holdings in Alamo Group were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Parallel Advisors LLC raised its stake in Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after acquiring an additional 72 shares in 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 worth $42,000 after acquiring an additional 125 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after acquiring an additional 61 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Alamo Group during the 4th quarter worth $79,000. Finally, CWM LLC raised its stake in Alamo Group by 520.9% during the 1st quarter. CWM LLC now owns 981 shares of the industrial products company's stock worth $175,000 after acquiring an additional 823 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of Alamo Group 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 transaction, the executive vice president directly owned 12,948 shares in the company, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $705,320.00. Following 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 disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Alamo Group Trading Down 3.1%

NYSE ALG opened at $215.64 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.62 and a current ratio of 4.30. The firm has a market cap of $2.61 billion, a PE ratio of 22.46 and a beta of 1.10. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $230.15. The firm's fifty day moving average is $215.19 and its two-hundred day moving average is $193.25.

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

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a $0.30 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.6%. Alamo Group's payout ratio is currently 12.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALG shares. DA Davidson reiterated a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Alamo Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Alamo Group 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.

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