AlphaQuest LLC Cuts Stock Holdings in Alamo Group, Inc. $ALG

Key Points

• AlphaQuest LLC cut its Alamo Group stake by 46.4% in the fourth quarter, selling 8,084 shares and leaving it with 9,326 shares worth about $1.57 million.
• Alamo Group reported better-than-expected quarterly results, posting EPS of $2.56 versus estimates of $2.20 and revenue of $417.15 million versus $398.02 million expected.
• Insider activity was mixed: director Nina C. Grooms sold shares, while CEO Robert Paul Hureau bought 460 shares, and analysts currently rate the stock a Moderate Buy with an average price target of $224.

AlphaQuest LLC lowered its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,326 shares of the industrial products company's stock after selling 8,084 shares during the quarter. AlphaQuest LLC owned approximately 0.08% of Alamo Group worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Alamo Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 798,234 shares of the industrial products company's stock worth $134,000,000 after buying an additional 12,499 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company's stock valued at $113,562,000 after purchasing an additional 57,456 shares during the last quarter. First Trust Advisors LP lifted its position in Alamo Group by 2.4% in the third quarter. First Trust Advisors LP now owns 393,487 shares of the industrial products company's stock valued at $75,117,000 after purchasing an additional 9,297 shares during the last quarter. Wasatch Advisors LP lifted its position in Alamo Group by 38.5% in the third quarter. Wasatch Advisors LP now owns 326,051 shares of the industrial products company's stock valued at $62,243,000 after purchasing an additional 90,556 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Alamo Group in the fourth quarter valued at approximately $39,213,000. Hedge funds and other institutional investors own 92.36% of the company's stock.

Insiders Place Their Bets

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the completion of the transaction, the director owned 2,844 shares in the company, valued at approximately $498,240.36. This represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Paul Hureau acquired 460 shares of the firm's stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $164.40 per share, with a total value of $75,624.00. Following the acquisition, the chief executive officer owned 12,506 shares of the company's stock, valued at $2,055,986.40. This represents a 3.82% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ALG has been the subject of several recent research reports. DA Davidson lowered their price objective on Alamo Group from $190.00 to $188.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. William Blair began coverage on Alamo Group in a report on Monday, March 16th. They set an "outperform" rating for the company. Weiss Ratings downgraded Alamo Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. Finally, Zacks Research upgraded Alamo Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alamo Group currently has an average rating of "Moderate Buy" and an average price target of $224.00.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $154.54 on Thursday. The business has a 50 day moving average of $164.86 and a 200 day moving average of $176.17. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.88 billion, a PE ratio of 18.49, a P/E/G ratio of 0.90 and a beta of 1.17. Alamo Group, Inc. has a 52 week low of $145.76 and a 52 week high of $233.29.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.36. The business had revenue of $417.15 million during the quarter, compared to the consensus estimate of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. As a group, equities research analysts forecast that Alamo Group, Inc. will post 10.61 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.34 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.9%. Alamo Group's dividend payout ratio is 16.27%.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

Want to see what other hedge funds are holding ALG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamo Group, Inc. (NYSE:ALG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.