Westwood Holdings Group Inc. Sells 36,743 Shares of Alamo Group Inc. (NYSE:ALG)

Westwood Holdings Group Inc. decreased its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 326,181 shares of the industrial products company's stock after selling 36,743 shares during the period. Westwood Holdings Group Inc. owned 2.70% of Alamo Group worth $60,640,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SG Capital Management LLC acquired a new position in shares of Alamo Group during the 4th quarter valued at about $16,971,000. Occudo Quantitative Strategies LP acquired a new position in shares of Alamo Group during the 4th quarter valued at about $226,000. Millennium Management LLC increased its holdings in shares of Alamo Group by 19.4% during the 4th quarter. Millennium Management LLC now owns 24,024 shares of the industrial products company's stock valued at $4,466,000 after acquiring an additional 3,904 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alamo Group by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,833 shares of the industrial products company's stock valued at $1,084,000 after acquiring an additional 211 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Alamo Group during the 4th quarter valued at about $79,000. Institutional investors and hedge funds own 92.36% of the company's stock.

Analysts Set New Price Targets

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

Alamo Group Price Performance

Shares of ALG stock traded down $1.88 during trading hours on Friday, hitting $196.85. 60,573 shares of the company's stock were exchanged, compared to its average volume of 94,968. The stock's 50-day moving average is $178.99 and its 200-day moving average is $184.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 19.82 and a beta of 1.02. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.33 by $0.32. The company had revenue of $390.95 million for 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, research analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's payout ratio is presently 12.50%.

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was 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 of the company's stock, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction dated 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 directly owns 40,913 shares in the company, 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. Company insiders own 1.18% of the company's stock.

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.