Dimensional Fund Advisors LP Cuts Holdings in Alamo Group, Inc. (ALG)
Dimensional Fund Advisors LP lessened its stake in Alamo Group, Inc. (NYSE:ALG) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 944,105 shares of the industrial products company’s stock after selling 7,740 shares during the period. Dimensional Fund Advisors LP owned approximately 8.12% of Alamo Group worth $101,368,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in Alamo Group by 12.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 53,528 shares of the industrial products company’s stock worth $5,748,000 after buying an additional 6,128 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Alamo Group by 7.9% in the 3rd quarter. Wells Fargo & Company MN now owns 16,936 shares of the industrial products company’s stock valued at $1,818,000 after purchasing an additional 1,247 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alamo Group by 76.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,889 shares of the industrial products company’s stock valued at $1,808,000 after purchasing an additional 7,308 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Alamo Group in the 3rd quarter valued at $344,000. Finally, Sawgrass Asset Management LLC boosted its stake in shares of Alamo Group by 40.0% in the 3rd quarter. Sawgrass Asset Management LLC now owns 12,925 shares of the industrial products company’s stock valued at $1,388,000 after purchasing an additional 3,690 shares in the last quarter. 92.43% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Richard Hodges Raborn sold 2,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $111.53, for a total value of $223,060.00. Following the completion of the sale, the executive vice president now owns 4,500 shares of the company’s stock, valued at approximately $501,885. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.99% of the stock is currently owned by corporate insiders.
Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.16. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. The company had revenue of $240.46 million during the quarter, compared to analysts’ expectations of $223.40 million. analysts forecast that Alamo Group, Inc. will post 4.49 earnings per share for the current fiscal year.
ALG has been the subject of a number of research reports. Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $104.00 price objective on shares of Alamo Group and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $105.00.
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Alamo Group Company Profile
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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