Nordea Investment Management AB Cuts Stock Holdings in Alamo Group, Inc. $ALG

Nordea Investment Management AB lowered its position in shares of Alamo Group, Inc. (NYSE:ALG) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,877 shares of the industrial products company’s stock after selling 7,591 shares during the quarter. Nordea Investment Management AB’s holdings in Alamo Group were worth $9,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Alamo Group by 1.2% in the third quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock worth $149,997,000 after acquiring an additional 9,571 shares during the last quarter. First Trust Advisors LP raised its stake in Alamo Group by 2.4% in the 3rd quarter. First Trust Advisors LP now owns 393,487 shares of the industrial products company’s stock valued at $75,117,000 after purchasing an additional 9,297 shares during the last quarter. Wasatch Advisors LP raised its stake in Alamo Group by 38.5% in the 3rd quarter. Wasatch Advisors LP now owns 326,051 shares of the industrial products company’s stock valued at $62,243,000 after purchasing an additional 90,556 shares during the last quarter. American Century Companies Inc. lifted its holdings in Alamo Group by 49.9% in the 3rd quarter. American Century Companies Inc. now owns 230,351 shares of the industrial products company’s stock valued at $43,974,000 after purchasing an additional 76,631 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its stake in Alamo Group by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock worth $38,895,000 after purchasing an additional 97,898 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 1.0%

ALG stock opened at $169.49 on Thursday. The firm has a market cap of $2.05 billion, a PE ratio of 19.73, a PEG ratio of 1.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.82 and a current ratio of 4.57. The firm’s 50 day moving average price is $191.82 and its 200-day moving average price is $183.96. Alamo Group, Inc. has a one year low of $156.29 and a one year high of $233.29.

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

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, January 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio (DPR) is currently 15.83%.

Insider Transactions at Alamo Group

In related news, Director Nina C. Grooms sold 499 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total transaction of $87,419.81. Following the completion of the sale, the director directly owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. This trade represents a 14.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 600 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the executive vice president owned 10,857 shares in the company, valued at approximately $1,855,787.01. This trade represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alamo Group in a report on Monday, December 29th. Zacks Research downgraded shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. William Blair began coverage on shares of Alamo Group in a research report on Monday, March 16th. They set an “outperform” rating on the stock. DA Davidson reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alamo Group in a research note on Monday, March 9th. Finally, CJS Securities upgraded shares of Alamo Group to a “strong-buy” rating in a report on Thursday, December 11th. One equities research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Alamo Group 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.