Wellington Management Group LLP Reduces Stake in Alamo Group, Inc. $ALG

Key Points

• Wellington Management Group LLP reduced its stake in Alamo Group, Inc. by 17.2%, now owning 160,412 shares valued at approximately $28.6 million after selling 33,431 shares in the first quarter.
• Alamo Group's stock is currently trading at around $221.83, with a recent earnings per share report of $2.57, missing expectations of $2.69, while its revenue reached $419.07 million.
• Analysts have mixed ratings on Alamo Group, with upgrades from Robert W. Baird to an "outperform" rating and a target price increase to $260, while Wall Street Zen downgraded it to a "hold" rating.

Wellington Management Group LLP cut its stake in Alamo Group, Inc. (NYSE:ALG - Free Report) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,412 shares of the industrial products company's stock after selling 33,431 shares during the quarter. Wellington Management Group LLP owned approximately 1.33% of Alamo Group worth $28,587,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Alamo Group by 80.0% in the first quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 72 shares during the period. GAMMA Investing LLC lifted its holdings in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 125 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 61 shares during the period. Lazard Asset Management LLC acquired a new position in Alamo Group in the fourth quarter valued at approximately $79,000. Finally, CWM LLC lifted its holdings in Alamo Group by 520.9% in the first quarter. CWM LLC now owns 981 shares of the industrial products company's stock valued at $175,000 after acquiring an additional 823 shares during the period. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Price Performance

Shares of ALG traded down $3.94 during trading hours on Friday, hitting $211.07. 97,703 shares of the stock were exchanged, compared to its average volume of 82,456. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.76 and a current ratio of 4.56. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The stock's 50-day moving average price is $220.54 and its two-hundred day moving average price is $198.31.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.12). Alamo Group had a return on equity of 11.45% and a net margin of 7.41%.The firm had revenue of $419.07 million for the quarter, compared to analysts' expectations of $406.75 million. Research analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 16th. Alamo Group's payout ratio is presently 12.22%.

Insider Activity at Alamo Group

In related news, CEO Jeffery Allen Leonard sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer directly owned 38,413 shares in the company, valued at approximately $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Baird R W raised Alamo Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 4th. DA Davidson restated a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research report on Tuesday, July 22nd. Robert W. Baird upgraded Alamo Group from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $209.00 to $260.00 in a research report on Monday, August 4th. Finally, Wall Street Zen cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Alamo Group currently has a consensus rating of "Buy" and a consensus price target of $234.00.

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.