Log Out

Commerce Bank Has $579,000 Position in Alamo Group Inc. (NYSE:ALG)

Defense World · Aug 16, 2022 07:11

Commerce Bank reduced its holdings in Alamo Group Inc. (NYSE:ALG – Get Rating) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,031 shares of the industrial products company's stock after selling 210 shares during the quarter. Commerce Bank's holdings in Alamo Group were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALG. Westwood Holdings Group Inc. grew its position in shares of Alamo Group by 41.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 236,617 shares of the industrial products company's stock valued at $34,826,000 after purchasing an additional 69,054 shares during the last quarter. Granite Investment Partners LLC lifted its stake in shares of Alamo Group by 48.1% in the first quarter. Granite Investment Partners LLC now owns 168,833 shares of the industrial products company's stock valued at $24,276,000 after buying an additional 54,862 shares during the period. Epoch Investment Partners Inc. lifted its stake in shares of Alamo Group by 24.9% in the fourth quarter. Epoch Investment Partners Inc. now owns 76,050 shares of the industrial products company's stock valued at $11,193,000 after buying an additional 15,162 shares during the period. SG Capital Management LLC bought a new stake in shares of Alamo Group in the fourth quarter valued at about $1,101,000. Finally, Summit Global Investments bought a new stake in shares of Alamo Group in the first quarter valued at about $1,050,000. 91.33% of the stock is owned by institutional investors and hedge funds.

Get Alamo Group alerts:

Alamo Group Stock Up 2.3 %

Shares of ALG opened at $143.64 on Tuesday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 20.43 and a beta of 0.99. The company has a quick ratio of 2.09, a current ratio of 3.95 and a debt-to-equity ratio of 0.48. Alamo Group Inc. has a 12 month low of $108.35 and a 12 month high of $160.71. The company has a 50-day moving average price of $120.96 and a two-hundred day moving average price of $129.01.

Alamo Group (NYSE:ALG – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The industrial products company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.33. Alamo Group had a net margin of 5.84% and a return on equity of 12.03%. During the same quarter in the previous year, the business earned $1.97 earnings per share. Equities analysts predict that Alamo Group Inc. will post 8.61 EPS for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 18th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, July 15th. Alamo Group's dividend payout ratio (DPR) is currently 10.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. DA Davidson increased their target price on shares of Alamo Group to $136.00 in a research note on Tuesday, August 9th. TheStreet cut shares of Alamo Group from a "b-" rating to a "c+" rating in a research note on Thursday, May 19th. Finally, StockNews.com upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Friday, August 5th.

Insider Activity

In other news, EVP Richard Hodges Raborn sold 1,553 shares of Alamo Group stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total value of $212,062.15. Following the completion of the transaction, the executive vice president now owns 8,710 shares in the company, valued at $1,189,350.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert P. Bauer bought 500 shares of the business's stock in a transaction dated Wednesday, June 15th. The stock was bought at an average price of $113.99 per share, for a total transaction of $56,995.00. Following the completion of the purchase, the director now owns 7,561 shares of the company's stock, valued at approximately $861,878.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Hodges Raborn sold 1,553 shares of Alamo Group stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $136.55, for a total transaction of $212,062.15. Following the completion of the transaction, the executive vice president now owns 8,710 shares of the company's stock, valued at approximately $1,189,350.50. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

About Alamo Group

(Get Rating)

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.