Westwood Holdings Group Inc. Trims Stake in Alamo Group Inc. (NYSE:ALG)

Westwood Holdings Group Inc. cut its stake in Alamo Group Inc. (NYSE:ALG) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 326,181 shares of the industrial products company’s stock after selling 36,743 shares during the quarter. Westwood Holdings Group Inc. owned approximately 2.70% of Alamo Group worth $60,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Alamo Group during the 4th quarter valued at about $79,000. KBC Group NV increased its stake in shares of Alamo Group by 57.1% in the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 69 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Alamo Group during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer now directly owns 40,913 shares in the company, valued at approximately $8,244,787.76. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the completion of the transaction, the executive vice president now owns 12,948 shares of the company’s stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALG. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird cut shares of Alamo Group from an “outperform” rating to a “neutral” rating and cut their target price 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. Finally, DA Davidson cut their price objective on Alamo Group from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Monday, April 21st.

Alamo Group Price Performance

Shares of NYSE ALG opened at $203.21 on Monday. The firm has a 50-day simple moving average of $177.56 and a 200-day simple moving average of $184.37. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The stock 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 52 week low of $157.07 and a 52 week high of $205.62.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.32. The company had revenue of $390.95 million during 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%. On average, equities analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

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

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.