13,616 Shares in Alamo Group Inc. (NYSE:ALG) Acquired by Vest Financial LLC

Vest Financial LLC purchased a new position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,616 shares of the industrial products company's stock, valued at approximately $2,427,000. Vest Financial LLC owned about 0.11% of Alamo Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ALG. Bank of America Corp DE grew its holdings in Alamo Group by 826.1% during the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock valued at $24,260,000 after purchasing an additional 116,404 shares during the period. SG Capital Management LLC acquired a new position in Alamo Group during the fourth quarter valued at approximately $16,971,000. Ameriprise Financial Inc. grew its holdings in Alamo Group by 338.4% during the fourth quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock valued at $21,539,000 after purchasing an additional 89,430 shares during the period. GAMMA Investing LLC grew its holdings in Alamo Group by 37,434.5% during the first quarter. GAMMA Investing LLC now owns 42,414 shares of the industrial products company's stock valued at $7,559,000 after purchasing an additional 42,301 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in Alamo Group by 279.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company's stock valued at $10,238,000 after purchasing an additional 40,549 shares during the period. 92.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Alamo Group Price Performance

ALG stock traded up $2.28 during mid-day trading on Friday, hitting $207.59. The stock had a trading volume of 50,730 shares, compared to its average volume of 96,617. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $208.68. The firm has a market capitalization of $2.51 billion, a P/E ratio of 20.90 and a beta of 1.07. The firm has a fifty day simple moving average of $182.41 and a 200 day simple moving average of $185.34.

Alamo Group (NYSE:ALG - Get Free Report) last released its 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. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. As a group, research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 12.50%.

Insider Buying and Selling at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 40,913 shares of the company's stock, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their position. 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 Alamo Group stock in a transaction that occurred 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 sale, the executive vice president now directly owns 12,948 shares in the company, valued at $2,613,424.32. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Alamo Group 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.