Nordea Investment Management AB Decreases Stake in Alamo Group, Inc. $ALG

Key Points

• Nordea Investment Management AB cut its stake in Alamo Group by 12.3% in Q4, selling 7,591 shares and leaving it with 53,877 shares (about 0.44% of the company) valued at roughly $9.13 million.
• Alamo missed Q results—EPS $1.70 vs. $2.06 expected and revenue $373.65M vs. $405.18M—while also raising its quarterly dividend to $0.34 (annualized $1.36, ~0.8% yield).

Nordea Investment Management AB reduced its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 12.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,877 shares of the industrial products company's stock after selling 7,591 shares during the period. Nordea Investment Management AB owned approximately 0.44% of Alamo Group worth $9,127,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in shares of Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 314 shares during the period. MAI Capital Management acquired a new stake in Alamo Group during the 3rd quarter worth about $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Alamo Group during the 2nd quarter valued at about $87,000. Globeflex Capital L P purchased a new stake in Alamo Group during the 2nd quarter valued at about $100,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alamo Group by 152.4% in the second quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company's stock valued at $187,000 after purchasing an additional 518 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Down 1.0%

Shares of ALG opened at $169.49 on Thursday. The firm has a market cap of $2.05 billion, a P/E ratio of 19.73, a PEG ratio of 1.04 and a beta of 1.11. Alamo Group, Inc. has a 12 month low of $156.29 and a 12 month high of $233.29. The stock's 50 day moving average is $191.82 and its two-hundred day moving average is $183.96. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.36). Alamo Group had a return on equity of 10.04% and a net margin of 6.47%.The business had revenue of $373.65 million for the quarter, compared to analyst estimates of $405.18 million. Analysts predict that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 16th were given a dividend of $0.34 per share. This is a boost from Alamo Group's previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, January 16th. Alamo Group's dividend payout ratio (DPR) is currently 15.83%.

Insiders Place Their Bets

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total transaction of $87,419.81. Following the transaction, the director directly owned 2,844 shares of the company's stock, valued at $498,240.36. This trade represents a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Paul Hureau bought 460 shares of the company's stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $164.40 per share, for a total transaction of $75,624.00. Following the transaction, the chief executive officer owned 12,506 shares of the company's stock, valued at approximately $2,055,986.40. This trade represents a 3.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zacks Research cut Alamo Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 5th. William Blair started coverage on Alamo Group in a research report on Monday, March 16th. They issued an "outperform" rating on the stock. DA Davidson reiterated a "neutral" rating and issued a $190.00 price target on shares of Alamo Group in a report on Monday, March 9th. CJS Securities raised shares of Alamo Group to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Alamo Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $225.00.

Alamo Group Company Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.

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