Alamo Group, Inc. $ALG Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,093 shares of the industrial products company’s stock after selling 8,778 shares during the quarter. Tributary Capital Management LLC owned 0.77% of Alamo Group worth $15,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALG. Wasatch Advisors LP acquired a new position in shares of Alamo Group during the second quarter worth about $51,427,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Alamo Group during the fourth quarter worth about $39,213,000. American Century Companies Inc. lifted its stake in shares of Alamo Group by 49.9% during the third quarter. American Century Companies Inc. now owns 230,351 shares of the industrial products company’s stock worth $43,974,000 after purchasing an additional 76,631 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Alamo Group by 9.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock worth $113,562,000 after purchasing an additional 57,456 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Alamo Group by 164.7% in the first quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock worth $11,332,000 after acquiring an additional 39,564 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insider Activity

In related news, CEO Robert Paul Hureau bought 460 shares of the stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $164.40 per share, with a total value of $75,624.00. Following the completion of the acquisition, the chief executive officer owned 12,506 shares of the company’s stock, valued at $2,055,986.40. This trade represents a 3.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Rizzuti sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the transaction, the executive vice president directly owned 10,857 shares of the company’s stock, valued at $1,855,787.01. This trade represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research note on Friday, March 27th. Zacks Research cut Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. William Blair assumed coverage on Alamo Group in a research note on Monday, March 16th. They issued an “outperform” rating on the stock. Finally, DA Davidson reiterated a “neutral” rating and issued a $190.00 price target on shares of Alamo Group in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alamo Group currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Alamo Group Trading Up 2.4%

Shares of NYSE ALG opened at $172.07 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 20.03, a PEG ratio of 1.02 and a beta of 1.20. The stock’s 50 day moving average price is $183.55 and its two-hundred day moving average price is $180.39. Alamo Group, Inc. has a 52-week low of $156.29 and a 52-week high of $233.29. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17.

Alamo Group (NYSE:ALG) last posted its earnings results on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.36). The company had revenue of $373.65 million for the quarter, compared to the consensus estimate of $405.18 million. Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. On average, analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s dividend payout ratio is 15.83%.

Alamo Group Company Profile

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.