Alamo Group, Inc. (ALG) Holdings Reduced by First Trust Advisors LP
First Trust Advisors LP cut its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 33.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,340 shares of the industrial products company’s stock after selling 8,167 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of Alamo Group worth $1,484,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its holdings in Alamo Group by 12.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 47,400 shares of the industrial products company’s stock valued at $4,305,000 after acquiring an additional 5,100 shares during the period. TD Asset Management Inc. increased its holdings in shares of Alamo Group by 15.0% in the second quarter. TD Asset Management Inc. now owns 9,200 shares of the industrial products company’s stock worth $835,000 after purchasing an additional 1,200 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Alamo Group by 1.2% in the second quarter. Texas Permanent School Fund now owns 6,915 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 80 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Alamo Group in the second quarter worth about $599,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Alamo Group by 5.4% in the second quarter. Great West Life Assurance Co. Can now owns 13,144 shares of the industrial products company’s stock worth $1,193,000 after purchasing an additional 670 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.
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In related news, EVP Richard Hodges Raborn sold 364 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $92.19, for a total value of $33,557.16. Following the transaction, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at approximately $414,855. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David W. Grzelak sold 2,201 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now directly owns 1,325 shares in the company, valued at $122,138.50. The disclosure for this sale can be found here. Company insiders own 3.99% of the company’s stock.
ALG has been the topic of several research reports. Piper Jaffray Companies set a $104.00 target price on Alamo Group and gave the stock a “buy” rating in a report on Friday, August 25th. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, August 22nd. BidaskClub raised Alamo Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, ValuEngine raised Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $96.67.
Shares of Alamo Group, Inc. (ALG) opened at 96.96 on Friday. The stock has a 50 day moving average price of $91.42 and a 200 day moving average price of $85.17. The company has a market capitalization of $1.13 billion, a PE ratio of 24.93 and a beta of 0.96. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $96.97.
Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.05. The firm had revenue of $213.28 million for the quarter, compared to analyst estimates of $217.90 million. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. On average, equities research analysts predict that Alamo Group, Inc. will post $4.21 earnings per share for the current year.
About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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