Alamo Group, Inc. (NYSE:ALG) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its stake in Alamo Group, Inc. by 15.2%, selling 20,000 shares and now owning 111,500 shares valued at approximately $19.87 million.
• Several institutional investors have increased their stakes in Alamo Group, including CWM LLC, which raised its ownership by 520.9% to 981 shares valued at $175,000.
• Alamo Group recently missed earnings estimates with an EPS of $2.57, compared to the consensus of $2.69, while reporting revenue of $419.07 million, exceeding expectations of $406.75 million.

Fayez Sarofim & Co trimmed its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,500 shares of the industrial products company's stock after selling 20,000 shares during the quarter. Fayez Sarofim & Co owned about 0.92% of Alamo Group worth $19,870,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 61 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 69 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Alamo Group by 80.0% in the 1st 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 in the last quarter. New York State Teachers Retirement System raised its stake in Alamo Group by 4.1% during the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock worth $448,000 after acquiring an additional 100 shares in the last quarter. Finally, Heritage Family Offices LLP increased its stake in Alamo Group by 8.3% in the first quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

Insider Activity

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief executive officer owned 40,913 shares in the company, valued at $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. Company insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALG shares. DA Davidson reaffirmed a "neutral" rating and issued a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and raised their price target for the company from $209.00 to $260.00 in a report on Monday, August 4th.

Alamo Group Stock Performance

Shares of Alamo Group stock traded up $0.32 during trading hours on Friday, reaching $222.32. The company's stock had a trading volume of 96,475 shares, compared to its average volume of 87,248. The stock has a market cap of $2.69 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.15 and a beta of 1.10. The company's 50 day simple moving average is $217.66 and its 200 day simple moving average is $194.69. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $230.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.62 and a current ratio of 4.56.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.12). The firm had revenue of $419.07 million during the quarter, compared to the consensus estimate of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. As a group, analysts expect that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were given a $0.30 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.20 annualized dividend and a yield of 0.5%. Alamo Group's dividend payout ratio (DPR) is currently 12.22%.

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.