Harbor Capital Advisors Inc. Acquires 1,210 Shares of Alamo Group Inc. (NYSE:ALG)

Harbor Capital Advisors Inc. raised its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,945 shares of the industrial products company's stock after purchasing an additional 1,210 shares during the quarter. Harbor Capital Advisors Inc. owned 0.40% of Alamo Group worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vest Financial LLC acquired a new position in Alamo Group during the first quarter worth $2,427,000. Heritage Family Offices LLP lifted its holdings in Alamo Group by 8.3% during the 1st 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 last quarter. Parallel Advisors LLC boosted its position in Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after buying an additional 72 shares in the last quarter. GAMMA Investing LLC boosted its position in Alamo Group by 37,434.5% in the first quarter. GAMMA Investing LLC now owns 42,414 shares of the industrial products company's stock valued at $7,559,000 after buying an additional 42,301 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Alamo Group during the fourth quarter worth about $6,581,000. 92.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the transaction, the chief executive officer now directly owns 40,913 shares of the company's stock, valued at $8,244,787.76. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $2,613,424.32. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Alamo Group Trading Down 0.4%

Shares of ALG stock traded down $0.95 on Friday, reaching $212.14. 131,146 shares of the stock were exchanged, compared to its average volume of 97,967. 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 Inc. has a one year low of $157.07 and a one year high of $214.13. The stock has a market cap of $2.56 billion, a PE ratio of 21.36 and a beta of 1.07. The stock has a 50 day moving average price of $185.78 and a 200 day moving average price of $185.79.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $391.08 million. Equities research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders 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 yield of 0.57%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

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

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.