Alamo Group, Inc. $ALG Position Trimmed by Tributary Capital Management LLC

Tributary Capital Management LLC cut its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,844 shares of the industrial products company’s stock after selling 7,983 shares during the period. Alamo Group comprises about 2.0% of Tributary Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Tributary Capital Management LLC owned approximately 0.88% of Alamo Group worth $23,114,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Alamo Group by 110.6% during the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Alamo Group by 30.0% during the first 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 period. Smartleaf Asset Management LLC raised its holdings in Alamo Group by 31.6% during the first 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 period. Jones Financial Companies Lllp raised its holdings in Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares during the period. Finally, CWM LLC raised its holdings in Alamo Group by 520.9% during the first quarter. CWM LLC now owns 981 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 823 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alamo Group news, CEO Jeffery Allen Leonard sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the completion of the transaction, the chief executive officer owned 38,413 shares in the company, valued at $8,534,984.47. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research reports. Wall Street Zen raised Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alamo Group in a report on Wednesday, October 8th. DA Davidson reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Alamo Group in a report on Tuesday, July 22nd. Finally, Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $209.00 to $260.00 in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $234.00.

Alamo Group Trading Up 0.6%

ALG opened at $186.83 on Thursday. The firm has a market cap of $2.26 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.97 and a beta of 1.08. Alamo Group, Inc. has a 12 month low of $157.07 and a 12 month high of $233.29. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average of $201.13 and a 200 day moving average of $201.40.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.12). The company had revenue of $419.07 million during the quarter, compared to analysts’ expectations of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. As a group, research analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, October 15th. Alamo Group’s payout ratio is 12.22%.

Alamo Group Company Profile

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.