Sherbrooke Park Advisers LLC Decreases Stake in Alamo Group Inc. (NYSE:ALG)

Sherbrooke Park Advisers LLC reduced its position in Alamo Group Inc. (NYSE:ALG) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,903 shares of the industrial products company’s stock after selling 555 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Alamo Group were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC lifted its position in shares of Alamo Group by 2.2% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 56 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Alamo Group by 6.9% during 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 during the last quarter. Swiss National Bank lifted its position in shares of Alamo Group by 0.5% during the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock worth $3,737,000 after purchasing an additional 100 shares during the last quarter. Mariner LLC lifted its position in shares of Alamo Group by 8.7% during the fourth quarter. Mariner LLC now owns 1,607 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 129 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Alamo Group by 0.9% during the fourth quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock worth $3,116,000 after purchasing an additional 142 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 500 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,613,424.32. This trade represents a 3.72% 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 this link. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the transaction, the chief executive officer now owns 40,913 shares in the company, valued at $8,244,787.76. This represents a 7.88% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $203.21 on Monday. The firm’s 50 day moving average is $177.56 and its two-hundred day moving average is $184.37. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The firm has a market capitalization of $2.46 billion, a P/E ratio of 20.46 and a beta of 1.02. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate 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. Analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALG. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a research note on Monday, March 3rd. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, 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.

Alamo Group 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.