Richard Hodges Raborn Sells 500 Shares of Alamo Group Inc. (NYSE:ALG) Stock

Alamo Group Inc. (NYSE:ALG) EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the transaction, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. This represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alamo Group Stock Up 0.6%

Shares of ALG stock opened at $203.21 on Friday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 20.46 and a beta of 1.02. Alamo Group Inc. has a one year low of $157.07 and a one year high of $205.62. The company’s fifty day moving average price is $177.56 and its 200-day moving average price is $184.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.33 by $0.32. The firm had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Sell-side analysts expect that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.59%. Alamo Group’s payout ratio is 12.50%.

Analysts Set New Price Targets

ALG has been the topic of several analyst reports. DA Davidson dropped their price target on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a research note on Monday, March 3rd. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th.

Institutional Trading of Alamo Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Investment Partners LLC increased its holdings in Alamo Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 56 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Alamo Group by 30.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 61 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Alamo Group by 31.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 271 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 65 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Alamo Group by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 69 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

About Alamo Group

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.