Hudson Edge Investment Partners Inc. Cuts Stock Position in Alamo Group, Inc. $ALG

Hudson Edge Investment Partners Inc. cut its holdings in Alamo Group, Inc. (NYSE:ALG) by 6.0% in the second quarter, HoldingsChannel reports. The firm owned 4,307 shares of the industrial products company’s stock after selling 273 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Alamo Group were worth $941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALG. Ninepoint Partners LP purchased a new position in shares of Alamo Group in the first quarter valued at $40,988,000. Assenagon Asset Management S.A. purchased a new position in shares of Alamo Group in the second quarter valued at $19,117,000. Westwood Holdings Group Inc. grew its holdings in shares of Alamo Group by 22.9% in the first quarter. Westwood Holdings Group Inc. now owns 400,860 shares of the industrial products company’s stock valued at $71,437,000 after purchasing an additional 74,679 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Alamo Group in the first quarter valued at $12,920,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Alamo Group by 12.9% in the first quarter. Victory Capital Management Inc. now owns 506,815 shares of the industrial products company’s stock valued at $90,320,000 after purchasing an additional 58,097 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALG has been the subject of several recent analyst reports. Wall Street Zen raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. DA Davidson reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. Robert W. Baird raised shares of Alamo Group from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $209.00 to $260.00 in a research note on Monday, August 4th. Finally, Baird R W raised shares of Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Alamo Group presently has an average rating of “Buy” and an average price target of $234.00.

Insider Activity

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the sale, the chief executive officer directly owned 38,413 shares of the company’s stock, valued at approximately $8,534,984.47. The trade was a 6.11% 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. Corporate insiders own 1.18% of the company’s stock.

Alamo Group Stock Up 1.6%

Shares of ALG opened at $192.09 on Friday. The firm has a market capitalization of $2.33 billion, a P/E ratio of 19.56, a P/E/G ratio of 0.99 and a beta of 1.08. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $233.29. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $211.45 and a 200-day moving average price of $201.12.

Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). The company had revenue of $419.07 million for the quarter, compared to analysts’ expectations of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, October 15th. Alamo Group’s payout ratio is currently 12.22%.

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.