UBS Group AG Cuts Stake in Alamo Group, Inc. (NYSE:ALG)
UBS Group AG lowered its position in Alamo Group, Inc. (NYSE:ALG) by 16.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,606 shares of the industrial products company’s stock after selling 315 shares during the period. UBS Group AG’s holdings in Alamo Group were worth $122,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Alamo Group by 10.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,712 shares of the industrial products company’s stock worth $130,000 after buying an additional 156 shares during the period. Russell Investments Group Ltd. purchased a new position in Alamo Group during the fourth quarter valued at approximately $156,000. Mason Street Advisors LLC raised its position in Alamo Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,207 shares of the industrial products company’s stock valued at $168,000 after buying an additional 144 shares in the last quarter. Stevens Capital Management LP purchased a new position in Alamo Group during the first quarter valued at approximately $207,000. Finally, Strs Ohio purchased a new position in Alamo Group during the first quarter valued at approximately $251,000. 88.98% of the stock is currently owned by institutional investors.
Alamo Group, Inc. (NYSE:ALG) traded down 0.37% during trading on Friday, hitting $91.18. 33,270 shares of the stock traded hands. The company has a 50-day moving average price of $92.34 and a 200 day moving average price of $82.76. The stock has a market cap of $1.06 billion, a PE ratio of 23.44 and a beta of 0.95. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $95.62.
Alamo Group (NYSE:ALG) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, hitting the consensus estimate of $1.05. The firm had revenue of $213.28 million during the quarter, compared to analysts’ expectations of $217.90 million. Alamo Group had a return on equity of 11.78% and a net margin of 5.32%. Analysts expect that Alamo Group, Inc. will post $4.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 17th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. Alamo Group’s payout ratio is presently 10.28%.
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Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Seaport Global Securities upped their price target on shares of Alamo Group from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $90.00 price target on shares of Alamo Group in a research report on Friday, July 14th.
In other Alamo Group news, VP Dan Edward Malone sold 950 shares of Alamo Group stock in a transaction on Monday, June 12th. The stock was sold at an average price of $90.75, for a total transaction of $86,212.50. Following the completion of the transaction, the vice president now directly owns 11,950 shares of the company’s stock, valued at $1,084,462.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Grzelak sold 2,201 shares of Alamo Group stock in a transaction on Monday, June 19th. The shares were sold at an average price of $92.18, for a total value of $202,888.18. Following the transaction, the director now directly owns 1,325 shares of the company’s stock, valued at $122,138.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,335 shares of company stock valued at $305,830. Company insiders own 3.99% of the company’s stock.
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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