First Horizon Advisors Inc. Lowers Position in Alamo Group Inc. (NYSE:ALG)

First Horizon Advisors Inc. decreased its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228 shares of the industrial products company’s stock after selling 65 shares during the quarter. First Horizon Advisors Inc.’s holdings in Alamo Group were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Huntington National Bank raised its stake in Alamo Group by 10.4% during the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 63 shares in the last quarter. Aurora Investment Counsel raised its stake in Alamo Group by 1.5% during the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after purchasing an additional 85 shares in the last quarter. FORA Capital LLC raised its stake in Alamo Group by 6.7% during the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 88 shares in the last quarter. Tidal Investments LLC raised its stake in Alamo Group by 3.8% during the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 113 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Trading Down 0.5 %

Shares of ALG opened at $184.04 on Friday. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $228.88. The company has a market cap of $2.22 billion, a P/E ratio of 18.53 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $184.09 and its 200-day simple moving average is $183.91.

Alamo Group (NYSE:ALG) last announced its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. As a group, analysts expect that Alamo Group Inc. will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were issued a $0.30 dividend. The ex-dividend date was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. Alamo Group’s dividend payout ratio is presently 12.08%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upped their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Transactions at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Alamo Group Company 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.