Two Sigma Investments LP Trims Holdings in Alamo Group Inc. (NYSE:ALG)

Two Sigma Investments LP lowered its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,777 shares of the industrial products company's stock after selling 7,931 shares during the quarter. Two Sigma Investments LP owned approximately 0.11% of Alamo Group worth $2,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cornerstone Investment Partners LLC increased its position in shares of Alamo Group by 2.2% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company's stock worth $484,000 after purchasing an additional 56 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Alamo Group by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after acquiring an additional 69 shares during the period. Swiss National Bank increased its stake in Alamo Group by 0.5% in the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock valued at $3,737,000 after purchasing an additional 100 shares during the period. Mariner LLC increased its holdings in Alamo Group by 8.7% in the fourth quarter. Mariner LLC now owns 1,607 shares of the industrial products company's stock valued at $299,000 after buying an additional 129 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Alamo Group by 0.9% during the 4th quarter. US Bancorp DE now owns 16,761 shares of the industrial products company's stock worth $3,116,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on ALG shares. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Wall Street Zen raised Alamo Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Industrial Alliance Securities set a $217.00 target price on shares of Alamo Group in a research note on Monday, March 3rd. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Finally, DA Davidson cut their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st.

Insiders Place Their Bets

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer now owns 40,913 shares of the company's stock, valued at approximately $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 the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Alamo Group Trading Up 0.1%

Alamo Group stock traded up $0.15 during trading on Wednesday, hitting $203.62. The company's stock had a trading volume of 13,828 shares, compared to its average volume of 95,702. The stock's fifty day moving average is $180.83 and its 200 day moving average is $185.05. Alamo Group Inc. has a 1-year low of $157.07 and a 1-year high of $206.48. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 20.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $391.08 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. As a group, equities research analysts predict 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. Shareholders of record on Wednesday, April 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.50%.

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.