Alamo Group, Inc. $ALG Stake Cut by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC lessened its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 25.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,935 shares of the industrial products company’s stock after selling 3,440 shares during the quarter. Grandeur Peak Global Advisors LLC owned approximately 0.08% of Alamo Group worth $1,634,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Alamo Group during the second quarter worth approximately $35,000. Jones Financial Companies Lllp increased its stake in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares during the period. Kestra Advisory Services LLC acquired a new position in Alamo Group in the 4th quarter valued at approximately $76,000. State of Wyoming lifted its position in Alamo Group by 76.5% in the 4th quarter. State of Wyoming now owns 473 shares of the industrial products company’s stock worth $79,000 after buying an additional 205 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Alamo Group by 861.5% during the 4th quarter. Hantz Financial Services Inc. now owns 500 shares of the industrial products company’s stock valued at $84,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Alamo Group in a report on Friday, August 21st. DA Davidson reiterated a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a report on Wednesday, July 1st. Finally, Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Alamo Group presently has a consensus rating of “Moderate Buy” and an average target price of $188.00.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 2,715 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total transaction of $446,373.15. Following the transaction, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. This represents a 25.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $165.09 on Monday. The firm has a market cap of $2.01 billion, a PE ratio of 19.79, a PEG ratio of 0.98 and a beta of 1.10. The firm’s 50 day moving average price is $164.36 and its 200 day moving average price is $168.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.48 and a current ratio of 4.39. Alamo Group, Inc. has a twelve month low of $145.76 and a twelve month high of $219.88.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, August 3rd. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The company had revenue of $450.73 million during the quarter, compared to the consensus estimate of $437.48 million. As a group, research analysts expect that Alamo Group, Inc. will post 10.56 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Thursday, July 16th were issued a $0.34 dividend. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio is currently 16.31%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.