Assenagon Asset Management S.A. Decreases Holdings in Alamo Group Inc. (NYSE:ALG)

Assenagon Asset Management S.A. trimmed its holdings in shares of Alamo Group Inc. (NYSE:ALGFree Report) by 71.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,498 shares of the industrial products company’s stock after selling 29,456 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Alamo Group worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in Alamo Group in the 4th quarter valued at about $1,093,000. Raymond James & Associates purchased a new position in Alamo Group in the 4th quarter valued at about $215,000. Aviva PLC purchased a new position in Alamo Group in the 3rd quarter valued at about $604,000. GSA Capital Partners LLP boosted its position in Alamo Group by 382.0% in the 3rd quarter. GSA Capital Partners LLP now owns 12,171 shares of the industrial products company’s stock valued at $2,104,000 after buying an additional 9,646 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Alamo Group by 2.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 253,338 shares of the industrial products company’s stock worth $43,792,000 after purchasing an additional 6,215 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of several research analyst reports. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. DA Davidson dropped their price objective on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th.

View Our Latest Analysis on ALG

Insider Activity at Alamo Group

In related news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the transaction, the executive vice president now owns 19,206 shares in the company, valued at $4,299,647.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Alamo Group Stock Performance

Shares of NYSE:ALG traded down $0.92 during trading hours on Tuesday, hitting $194.26. The stock had a trading volume of 59,084 shares, compared to its average volume of 69,547. The stock’s fifty day simple moving average is $206.89 and its 200 day simple moving average is $203.29. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 17.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29.

Alamo Group (NYSE:ALGGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The company had revenue of $425.59 million for the quarter. During the same quarter in the previous year, the business posted $2.79 EPS. Sell-side analysts anticipate that Alamo Group Inc. will post 12.3 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were paid a $0.26 dividend. The ex-dividend date was Monday, April 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Alamo Group’s payout ratio is currently 9.25%.

Alamo Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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