King Luther Capital Management Corp Cuts Stock Holdings in Alamo Group Inc. (NYSE:ALG)

King Luther Capital Management Corp lessened its holdings in Alamo Group Inc. (NYSE:ALG) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,259 shares of the industrial products company’s stock after selling 3,143 shares during the period. King Luther Capital Management Corp owned about 0.37% of Alamo Group worth $9,303,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALG. Los Angeles Capital Management LLC raised its stake in shares of Alamo Group by 0.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 9,211 shares of the industrial products company’s stock valued at $1,592,000 after acquiring an additional 72 shares during the period. Assenagon Asset Management S.A. increased its stake in Alamo Group by 251.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 44,214 shares of the industrial products company’s stock worth $7,643,000 after buying an additional 31,621 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in Alamo Group during the 3rd quarter worth $1,046,000. Barclays PLC grew its holdings in Alamo Group by 1.4% during the 3rd quarter. Barclays PLC now owns 12,002 shares of the industrial products company’s stock worth $2,075,000 after acquiring an additional 163 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Alamo Group by 1.3% during the 3rd quarter. Swiss National Bank now owns 23,800 shares of the industrial products company’s stock worth $4,114,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

Shares of NYSE ALG traded down $0.58 during midday trading on Wednesday, hitting $193.68. The company’s stock had a trading volume of 27,046 shares, compared to its average volume of 69,104. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The firm’s fifty day moving average price is $206.74 and its 200-day moving average price is $203.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29. The firm has a market cap of $2.33 billion, a P/E ratio of 17.42 and a beta of 1.07.

Alamo Group (NYSE:ALG) last posted its earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million during the quarter. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, sell-side analysts forecast that Alamo Group Inc. will post 12.3 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

Insiders Place Their Bets

In other Alamo Group news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the sale, the executive vice president now directly owns 19,206 shares in the company, valued at approximately $4,299,647.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th. DA Davidson decreased their price target on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, May 7th.

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.