Gotham Asset Management LLC Invests $674,000 in Alamo Group Inc. (NYSE:ALG)

Gotham Asset Management LLC bought a new position in Alamo Group Inc. (NYSE:ALG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,624 shares of the industrial products company's stock, valued at approximately $674,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Deutsche Bank AG grew its position in shares of Alamo Group by 46.4% in the 4th quarter. Deutsche Bank AG now owns 8,947 shares of the industrial products company's stock worth $1,663,000 after buying an additional 2,835 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Alamo Group by 279.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company's stock worth $10,238,000 after buying an additional 40,549 shares during the period. Dean Capital Management purchased a new stake in shares of Alamo Group in the 4th quarter worth about $2,930,000. Crestline Management LP purchased a new stake in shares of Alamo Group in the 4th quarter worth about $205,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Alamo Group by 380.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 9,225 shares of the industrial products company's stock worth $1,715,000 after buying an additional 7,303 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction that occurred 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 now owns 12,948 shares in the company, valued at $2,613,424.32. This represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the 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 $8,244,787.76. This trade represents a 7.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Alamo Group Stock Down 0.9%

ALG stock traded down $1.88 during trading on Friday, hitting $196.85. 60,573 shares of the stock traded hands, compared to its average volume of 95,141. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62. The firm's 50 day moving average is $178.99 and its two-hundred day moving average is $184.80. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 19.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.33 by $0.32. The company had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, sell-side analysts anticipate that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's payout ratio is presently 12.50%.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of recent research reports. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research report on Monday, March 3rd. DA Davidson reduced their target price on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Baird R W downgraded shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Robert W. Baird downgraded shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Thursday.

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.