Alamo Group Inc. (NYSE:ALG) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lowered its stake in shares of Alamo Group Inc. (NYSE:ALG) by 55.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,533 shares of the industrial products company’s stock after selling 10,488 shares during the quarter. Quadrature Capital Ltd owned approximately 0.07% of Alamo Group worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RK Capital Management LLC raised its holdings in Alamo Group by 81.2% during the fourth quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock worth $11,405,000 after purchasing an additional 24,310 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Alamo Group during the first quarter worth approximately $1,067,000. Louisiana State Employees Retirement System purchased a new position in shares of Alamo Group during the fourth quarter worth approximately $1,093,000. Raymond James & Associates purchased a new position in shares of Alamo Group during the fourth quarter worth approximately $215,000. Finally, Vanguard Group Inc. grew its position in shares of Alamo Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock worth $159,681,000 after acquiring an additional 7,121 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALG. StockNews.com lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson lowered their target price on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

Alamo Group Stock Performance

NYSE:ALG traded up $2.93 during midday trading on Friday, reaching $194.96. The stock had a trading volume of 61,743 shares, compared to its average volume of 88,667. The firm has a fifty day simple moving average of $180.50 and a two-hundred day simple moving average of $198.55. 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. The stock has a market cap of $2.35 billion, a P/E ratio of 17.35 and a beta of 1.04.

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

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Alamo Group’s payout ratio is currently 9.25%.

Alamo Group 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.