Wedge Capital Management L L P NC Sells 2,469 Shares of Alamo Group Inc. (NYSE:ALG)

Wedge Capital Management L L P NC reduced its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,402 shares of the industrial products company's stock after selling 2,469 shares during the period. Wedge Capital Management L L P NC owned 0.16% of Alamo Group worth $3,458,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ALG. Parallel Advisors LLC raised its position in Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock worth $38,000 after purchasing an additional 168 shares during the last quarter. Lazard Asset Management LLC bought a new position in Alamo Group during the 4th quarter worth $79,000. Summit Investment Advisors Inc. raised its position in Alamo Group by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Alamo Group during the 4th quarter worth $200,000. 92.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Alamo Group

In other news, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the transaction, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. The trade was a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 40,913 shares in the company, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Alamo Group Stock Down 0.4%

ALG stock traded down $0.95 during mid-day trading on Friday, reaching $212.14. 131,146 shares of the company traded hands, compared to its average volume of 97,967. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 21.36 and a beta of 1.07. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $214.13. The firm's 50 day moving average price is $185.78 and its 200 day moving average price is $185.79.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million during the quarter, compared to the consensus estimate 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 fiscal year.

Alamo Group Dividend Announcement

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. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.57%. Alamo Group's dividend payout ratio (DPR) is currently 12.50%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALG shares. DA Davidson lowered their price objective on Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Wall Street Zen lowered Alamo Group from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research report on Monday, March 3rd. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $224.00 to $177.00 in a research report on Friday, February 28th.

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.