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

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

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alamo Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company's stock worth $134,070,000 after purchasing an additional 2,361 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company's stock valued at $121,205,000 after buying an additional 30,826 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 8.0% in the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock valued at $83,421,000 after buying an additional 33,294 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Alamo Group by 7.7% in the fourth quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock valued at $31,100,000 after buying an additional 11,930 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alamo Group by 5.0% in the fourth 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 in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Alamo Group Stock Up 0.2%

Shares of ALG traded up $0.39 during trading hours on Monday, reaching $203.58. 90,687 shares of the stock traded hands, compared to its average volume of 94,773. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $177.56 and a 200 day simple moving average of $184.37. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 20.50 and a beta of 1.02.

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 for the quarter, beating 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 analyst estimates of $391.08 million. On average, equities analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.59%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio is 12.50%.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total value of $100,920.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group stock in a transaction dated Wednesday, May 14th. The stock was 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 directly owns 40,913 shares in the company, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. 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.