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Alamo Group Inc. (NYSE:ALG) Shares Sold by Envestnet Asset Management Inc.

Defense World · Aug 29, 2022 04:21

Envestnet Asset Management Inc. lowered its position in Alamo Group Inc. (NYSE:ALG – Get Rating) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,112 shares of the industrial products company's stock after selling 284 shares during the period. Envestnet Asset Management Inc.'s holdings in Alamo Group were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ALG. Maryland State Retirement & Pension System raised its stake in shares of Alamo Group by 1.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 4,003 shares of the industrial products company's stock worth $576,000 after buying an additional 76 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Alamo Group by 0.7% during the 4th quarter. Public Sector Pension Investment Board now owns 20,161 shares of the industrial products company's stock worth $2,967,000 after purchasing an additional 150 shares during the period. Laurel Wealth Planning LLC acquired a new position in shares of Alamo Group during the 1st quarter worth $65,000. Truist Financial Corp increased its holdings in shares of Alamo Group by 25.6% in the 1st quarter. Truist Financial Corp now owns 2,309 shares of the industrial products company's stock valued at $332,000 after purchasing an additional 470 shares in the last quarter. Finally, EMC Capital Management lifted its stake in shares of Alamo Group by 9.1% in the fourth quarter. EMC Capital Management now owns 6,942 shares of the industrial products company's stock valued at $1,022,000 after purchasing an additional 578 shares during the period. Hedge funds and other institutional investors own 91.33% of the company's stock.

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Insider Buying and Selling

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

Alamo Group Stock Performance

Shares of ALG opened at $133.10 on Monday. Alamo Group Inc. has a 12-month low of $108.35 and a 12-month high of $160.71. The stock has a market cap of $1.59 billion, a P/E ratio of 18.93 and a beta of 0.99. The company has a current ratio of 3.95, a quick ratio of 2.09 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $124.90 and a two-hundred day moving average of $128.89.

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

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 18th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, July 15th. Alamo Group's payout ratio is currently 10.24%.

Analyst Ratings Changes

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

Alamo Group Company Profile

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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.