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

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALG. Vanguard Group Inc. boosted its holdings in shares of Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company's stock worth $134,070,000 after buying an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company's stock worth $121,205,000 after acquiring an additional 30,826 shares during the last quarter. Victory Capital Management Inc. lifted its position in Alamo Group by 8.0% during the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock worth $83,421,000 after acquiring an additional 33,294 shares during the last quarter. Northern Trust Corp boosted its holdings in Alamo Group by 7.7% during the fourth quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock valued at $31,100,000 after acquiring an additional 11,930 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alamo Group by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock valued at $26,222,000 after buying an additional 6,666 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction 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. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the sale, the chief executive officer now owns 40,913 shares of the company's stock, valued at $8,244,787.76. The trade was a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Alamo Group Price Performance

Shares of ALG stock traded up $4.03 during mid-day trading on Tuesday, reaching $213.31. The company's stock had a trading volume of 123,947 shares, compared to its average volume of 97,321. The firm's 50-day moving average is $182.96 and its two-hundred day moving average is $185.34. The company has a market cap of $2.58 billion, a P/E ratio of 21.48 and a beta of 1.07. Alamo Group Inc. has a 1-year low of $157.07 and a 1-year high of $213.59. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. The firm had revenue of $390.95 million during the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.56%. Alamo Group's dividend payout ratio (DPR) is presently 12.50%.

Analyst Ratings Changes

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

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.