Royce & Associates LP Decreases Holdings in Alamo Group, Inc. (ALG)
Royce & Associates LP trimmed its holdings in Alamo Group, Inc. (NYSE:ALG) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,454 shares of the industrial products company’s stock after selling 6,125 shares during the quarter. Royce & Associates LP owned about 0.79% of Alamo Group worth $9,819,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Alamo Group in the 3rd quarter worth approximately $111,000. Acrospire Investment Management LLC raised its position in shares of Alamo Group by 150.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,173 shares of the industrial products company’s stock valued at $107,000 after buying an additional 704 shares during the period. Pinebridge Investments L.P. raised its position in shares of Alamo Group by 1.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,248 shares of the industrial products company’s stock valued at $113,000 after buying an additional 17 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Alamo Group during the 3rd quarter valued at approximately $210,000. Finally, King Luther Capital Management Corp purchased a new stake in shares of Alamo Group during the 2nd quarter valued at approximately $210,000. 92.46% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on ALG. BidaskClub lowered shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Friday, September 15th. Piper Jaffray Companies set a $104.00 price target on shares of Alamo Group and gave the company a “buy” rating in a research report on Sunday, October 1st. Finally, ValuEngine lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $105.00.
Shares of Alamo Group, Inc. (NYSE:ALG) opened at $111.58 on Thursday. The company has a market cap of $1,292.13, a P/E ratio of 25.77 and a beta of 0.96. The company has a current ratio of 4.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.28. Alamo Group, Inc. has a 12-month low of $70.53 and a 12-month high of $119.58.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.16. The firm had revenue of $240.46 million for the quarter, compared to analyst estimates of $223.40 million. Alamo Group had a net margin of 5.56% and a return on equity of 12.11%. analysts forecast that Alamo Group, Inc. will post 4.49 earnings per share for the current year.
In other Alamo Group news, VP Geoff Davies sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $98.16, for a total value of $392,640.00. Following the sale, the vice president now owns 3,800 shares of the company’s stock, valued at $373,008. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $111.53, for a total value of $223,060.00. Following the completion of the sale, the executive vice president now directly owns 4,500 shares in the company, valued at approximately $501,885. The disclosure for this sale can be found here. 3.99% of the stock is currently owned by insiders.
Alamo Group 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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