SG Capital Management LLC Invests $16.97 Million in Alamo Group Inc. (NYSE:ALG)

SG Capital Management LLC bought a new position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 91,287 shares of the industrial products company's stock, valued at approximately $16,971,000. Alamo Group makes up 1.6% of SG Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. SG Capital Management LLC owned 0.76% of Alamo Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ALG. Smartleaf Asset Management LLC raised its stake in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 168 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alamo Group during the fourth quarter worth $79,000. KBC Group NV grew its holdings in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company's stock worth $97,000 after acquiring an additional 189 shares during the period. Summit Investment Advisors Inc. increased its holdings in Alamo Group by 6.9% in the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Alamo Group during the fourth quarter worth $200,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Baird R W lowered Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $224.00 to $177.00 in a report on Friday, February 28th. DA Davidson decreased their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research note on Monday, March 3rd. Finally, StockNews.com raised Alamo Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

Alamo Group Stock Down 1.8%

NYSE ALG traded down $3.73 during mid-day trading on Wednesday, reaching $199.74. The stock had a trading volume of 27,103 shares, compared to its average volume of 94,830. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62. The company has a fifty day moving average price of $178.37 and a 200 day moving average price of $184.61. 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 $2.41 billion, a PE ratio of 20.12 and a beta of 1.02.

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, topping analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $390.95 million for the quarter, compared to analysts' expectations of $391.08 million. On average, research analysts expect that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The business also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's payout ratio is currently 12.50%.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the business'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 approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 value of $705,320.00. Following the transaction, the chief executive officer now owns 40,913 shares of the company's stock, valued at $8,244,787.76. This trade represents a 7.88% 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.

About Alamo Group

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.