Natixis Advisors LLC Sells 37,655 Shares of Alamo Group, Inc. (NYSE:ALG)

Key Points

• Natixis Advisors LLC significantly reduced its stake in Alamo Group, Inc. by 71.0%, selling 37,655 shares and owning 15,377 shares worth approximately $2.74 million as of the latest SEC filing.
• Alamo Group reported $2.57 earnings per share for the latest quarter, falling short of the consensus estimate of $2.69, while revenue surpassed expectations at $419.07 million.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 0.5% and a dividend payout ratio of 12.22%.

Natixis Advisors LLC reduced its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 71.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,377 shares of the industrial products company's stock after selling 37,655 shares during the period. Natixis Advisors LLC owned 0.13% of Alamo Group worth $2,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Alamo Group by 30.0% during the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after buying an additional 61 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after buying an additional 69 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Alamo Group by 80.0% during 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 during the last quarter. New York State Teachers Retirement System raised its position in shares of Alamo Group by 4.1% during the first quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock valued at $448,000 after buying an additional 100 shares during the last quarter. Finally, Heritage Family Offices LLP raised its position in shares of Alamo Group by 8.3% during the first quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock valued at $242,000 after buying an additional 104 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other 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 dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the transaction, the chief executive officer owned 40,913 shares of the company's stock, valued at $8,244,787.76. This trade represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 500 shares of Alamo Group 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 completion of the transaction, the executive vice president directly owned 12,948 shares of the company's stock, valued at approximately $2,613,424.32. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Alamo Group Trading Down 0.5%

ALG stock traded down $1.17 during midday trading on Monday, reaching $221.42. The company's stock had a trading volume of 74,343 shares, compared to its average volume of 113,122. The business's 50-day simple moving average is $217.66 and its 200-day simple moving average is $194.76. The company has a quick ratio of 2.76, a current ratio of 4.56 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.68 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. Alamo Group, Inc. has a 52 week low of $157.07 and a 52 week high of $230.15.

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

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is presently 12.22%.

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.