Rice Hall James & Associates LLC Sells 1,371 Shares of Alamo Group Inc. (NYSE:ALG)

Rice Hall James & Associates LLC lessened its position in shares of Alamo Group Inc. (NYSE:ALG) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,052 shares of the industrial products company’s stock after selling 1,371 shares during the period. Rice Hall James & Associates LLC owned approximately 0.16% of Alamo Group worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hudson Edge Investment Partners Inc. increased its holdings in Alamo Group by 13.5% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 3,575 shares of the industrial products company’s stock worth $618,000 after acquiring an additional 424 shares during the period. Arizona State Retirement System grew its stake in Alamo Group by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares in the last quarter. Victory Capital Management Inc. grew its stake in Alamo Group by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after buying an additional 33,190 shares in the last quarter. Hodges Capital Management Inc. grew its stake in Alamo Group by 21.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 40,003 shares of the industrial products company’s stock worth $6,921,000 after buying an additional 6,950 shares in the last quarter. Finally, Guidance Capital Inc. grew its stake in Alamo Group by 12.5% in the 2nd quarter. Guidance Capital Inc. now owns 2,348 shares of the industrial products company’s stock worth $406,000 after buying an additional 261 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ALG shares. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird cut their price target on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson boosted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $174.11 on Thursday. Alamo Group Inc. has a 52-week low of $157.74 and a 52-week high of $231.40. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 15.49 and a beta of 1.07. The company has a fifty day moving average of $178.36 and a 200-day moving average of $190.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The business had revenue of $416.30 million during the quarter. During the same period last year, the business earned $3.03 earnings per share. Equities research analysts expect that Alamo Group Inc. will post 10.23 EPS for the current year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Tuesday, July 16th were paid a $0.26 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Insider Activity

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.