Westwood Holdings Group Inc. Cuts Position in Alamo Group Inc. (NYSE:ALG)

Westwood Holdings Group Inc. trimmed its position in shares of Alamo Group Inc. (NYSE:ALG) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,181 shares of the industrial products company’s stock after selling 36,743 shares during the period. Westwood Holdings Group Inc.’s holdings in Alamo Group were worth $60,640,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Cornerstone Investment Partners LLC grew its holdings in Alamo Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 56 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 69 shares in the last quarter. Swiss National Bank increased its holdings in Alamo Group by 0.5% in the fourth quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after buying an additional 100 shares during the last quarter. Mariner LLC increased its holdings in Alamo Group by 8.7% in the fourth quarter. Mariner LLC now owns 1,607 shares of the industrial products company’s stock valued at $299,000 after buying an additional 129 shares during the last quarter. Finally, US Bancorp DE raised its stake in Alamo Group by 0.9% in the fourth quarter. US Bancorp DE now owns 16,761 shares of the industrial products company’s stock valued at $3,116,000 after buying an additional 142 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Price Performance

ALG stock opened at $203.21 on Monday. The business has a 50 day simple moving average of $177.56 and a 200-day simple moving average of $184.37. Alamo Group Inc. has a twelve month low of $157.07 and a twelve month high of $205.62. 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 has a market capitalization of $2.46 billion, a P/E ratio of 20.46 and a beta of 1.02.

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

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s dividend payout ratio is presently 12.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALG. DA Davidson dropped their price objective on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a research note on Monday, March 3rd. Finally, Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $224.00 to $177.00 in a research report on Friday, February 28th.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the sale, the chief executive officer now directly owns 40,913 shares of the company’s stock, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of Alamo Group 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 transaction, the executive vice president now owns 12,948 shares of the company’s stock, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

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.