Alamo Group Inc. (NYSE:ALG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 37,434.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,414 shares of the industrial products company's stock after purchasing an additional 42,301 shares during the period. GAMMA Investing LLC owned approximately 0.35% of Alamo Group worth $7,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after acquiring an additional 168 shares during the period. Barclays PLC lifted its holdings in shares of Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company's stock worth $4,039,000 after purchasing an additional 15,061 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Alamo Group by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock valued at $26,222,000 after buying an additional 6,666 shares during the last quarter. Intech Investment Management LLC increased its holdings in Alamo Group by 63.9% in the 4th quarter. Intech Investment Management LLC now owns 4,405 shares of the industrial products company's stock worth $819,000 after buying an additional 1,718 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Alamo Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company's stock worth $10,585,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 92.36% of the company's stock.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the sale, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company's stock in a transaction that occurred on 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 now owns 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. Corporate insiders own 1.18% of the company's stock.

Alamo Group Price Performance

ALG traded up $0.44 during midday trading on Thursday, hitting $212.87. 151,315 shares of the company traded hands, compared to its average volume of 98,025. The business has a 50 day simple moving average of $184.75 and a two-hundred day simple moving average of $185.72. Alamo Group Inc. has a 52-week low of $157.07 and a 52-week high of $214.13. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 21.44 and a beta of 1.07. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The firm had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's payout ratio is currently 12.50%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $224.00 to $177.00 in a report on Friday, February 28th. Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Wall Street Zen downgraded Alamo Group from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research note on Monday, March 3rd. Finally, DA Davidson lowered their price target on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a report on Monday, April 21st.

Alamo Group Company 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.