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

ClariVest Asset Management LLC trimmed its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,993 shares of the industrial products company’s stock after selling 659 shares during the period. ClariVest Asset Management LLC owned approximately 0.06% of Alamo Group worth $1,597,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ALG. Contravisory Investment Management Inc. increased its holdings in shares of Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 47 shares during the period. Quest Partners LLC acquired a new position in shares of Alamo Group during the fourth quarter valued at $52,000. Duncker Streett & Co. Inc. acquired a new position in shares of Alamo Group during the first quarter valued at $82,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Alamo Group during the fourth quarter valued at $208,000. Finally, FCA Corp TX acquired a new position in shares of Alamo Group during the fourth quarter valued at $210,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on ALG shares. DA Davidson lowered their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 9th.

Alamo Group Price Performance

Alamo Group stock traded up $0.23 during midday trading on Friday, hitting $172.92. The company’s stock had a trading volume of 51,252 shares, compared to its average volume of 82,194. The stock’s 50-day moving average price is $182.62 and its 200-day moving average price is $199.93. The company has a market capitalization of $2.08 billion, a PE ratio of 15.38 and a beta of 1.04. Alamo Group Inc. has a 12 month low of $157.74 and a 12 month high of $231.40. The company has a quick ratio of 2.49, a current ratio of 4.29 and a debt-to-equity ratio of 0.32.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.01. The firm had revenue of $425.59 million for the quarter. Alamo Group had a return on equity of 14.82% and a net margin of 7.92%. During the same period in the prior year, the business posted $2.79 EPS. Analysts anticipate that Alamo Group Inc. will post 12.3 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Tuesday, July 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.60%. Alamo Group’s dividend payout ratio is currently 9.25%.

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.