Voya Investment Management LLC cut its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,885 shares of the industrial products company’s stock after selling 582 shares during the period. Voya Investment Management LLC’s holdings in Alamo Group were worth $351,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ALG. Victory Capital Management Inc. lifted its position in shares of Alamo Group by 54.7% in the 2nd quarter. Victory Capital Management Inc. now owns 713,316 shares of the industrial products company’s stock worth $64,455,000 after purchasing an additional 252,089 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Alamo Group by 35.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 242,268 shares of the industrial products company’s stock worth $21,892,000 after purchasing an additional 63,454 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Alamo Group in the 2nd quarter worth approximately $4,093,000. PNC Financial Services Group Inc. lifted its position in shares of Alamo Group by 17.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 231,476 shares of the industrial products company’s stock worth $20,918,000 after purchasing an additional 34,390 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Alamo Group in the 2nd quarter worth approximately $3,071,000. Institutional investors and hedge funds own 92.35% of the company’s stock.
Shares of NYSE ALG traded down $2.94 during midday trading on Friday, reaching $86.54. The stock had a trading volume of 48,260 shares, compared to its average volume of 43,138. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.60 and a current ratio of 4.27. Alamo Group, Inc. has a twelve month low of $79.85 and a twelve month high of $120.58. The company has a market capitalization of $1.05 billion, a P/E ratio of 18.69 and a beta of 1.01.
Alamo Group (NYSE:ALG) last released its earnings results on Thursday, November 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.75. Alamo Group had a net margin of 6.04% and a return on equity of 13.85%. The company had revenue of $257.57 million for the quarter.
The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Monday, October 15th were given a dividend of $0.11 per share. The ex-dividend date was Friday, October 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.51%. Alamo Group’s payout ratio is presently 9.50%.
In related news, VP Richard J. Wehrle sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $95.05, for a total transaction of $570,300.00. Following the transaction, the vice president now owns 16,404 shares in the company, valued at approximately $1,559,200.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.48% of the stock is owned by insiders.
A number of brokerages have recently issued reports on ALG. Zacks Investment Research upgraded 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 Tuesday, August 7th. ValuEngine downgraded shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Sidoti upgraded shares of Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Wednesday, October 24th.
Alamo Group Company Profile
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.
Further Reading: Rule of 72
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