Harbor Capital Advisors Inc. Purchases 1,210 Shares of Alamo Group Inc. (NYSE:ALG)

Harbor Capital Advisors Inc. boosted its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,945 shares of the industrial products company’s stock after buying an additional 1,210 shares during the quarter. Harbor Capital Advisors Inc. owned 0.40% of Alamo Group worth $8,544,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares during the period. Lazard Asset Management LLC purchased a new stake in Alamo Group in the 4th quarter valued at about $79,000. Summit Investment Advisors Inc. raised its holdings in Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after buying an additional 69 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Alamo Group during the fourth quarter worth about $200,000. 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, CEO Jeffery Allen Leonard sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 owns 40,913 shares of the company’s stock, valued at $8,244,787.76. This represents a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $209.50 on Tuesday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 21.10 and a beta of 1.07. The stock has a 50 day moving average of $182.96 and a 200-day moving average of $185.34. 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 Inc. has a 52 week low of $157.07 and a 52 week high of $210.88.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.32. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $390.95 million during the quarter, compared to analyst estimates of $391.08 million. As a group, analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group’s payout ratio is 12.50%.

Analyst Ratings Changes

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

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.