Ninepoint Partners LP Takes Position in Alamo Group, Inc. (NYSE:ALG)

Ninepoint Partners LP bought a new position in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 230,000 shares of the industrial products company's stock, valued at approximately $40,988,000. Alamo Group makes up 6.4% of Ninepoint Partners LP's investment portfolio, making the stock its 5th biggest holding. Ninepoint Partners LP owned approximately 1.90% of Alamo Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Legato Capital Management LLC boosted its stake in Alamo Group by 23.4% in the 1st quarter. Legato Capital Management LLC now owns 12,223 shares of the industrial products company's stock worth $2,178,000 after buying an additional 2,314 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alamo Group in the 1st quarter valued at $1,365,000. Victory Capital Management Inc. raised its holdings in shares of Alamo Group by 12.9% during the 1st quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company's stock valued at $90,320,000 after buying an additional 58,097 shares during the period. CWM LLC boosted its holdings in Alamo Group by 520.9% in the 1st quarter. CWM LLC now owns 981 shares of the industrial products company's stock worth $175,000 after acquiring an additional 823 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Alamo Group during the first quarter valued at approximately $210,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Price Performance

ALG stock traded up $1.80 during trading hours on Friday, hitting $219.08. 45,566 shares of the stock traded hands, compared to its average volume of 104,688. The stock has a 50-day simple moving average of $213.42 and a 200 day simple moving average of $191.83. The company has a market cap of $2.65 billion, a P/E ratio of 22.82 and a beta of 1.08. Alamo Group, Inc. has a one year low of $157.07 and a one year high of $230.15. The company has a current ratio of 4.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.19.

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 (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. The company had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. Equities analysts forecast that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.55%. Alamo Group's dividend payout ratio is currently 12.50%.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the sale, the chief executive officer directly owned 40,913 shares of the company's stock, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the sale, the executive vice president owned 12,948 shares of the company's stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALG shares. DA Davidson reaffirmed a "neutral" rating and set a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Wall Street Zen lowered Alamo Group from a "buy" rating to a "hold" rating in a research note on Saturday.

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.