Laurus Investment Counsel Inc. Purchases New Holdings in Alamo Group Inc. (NYSE:ALG)

Laurus Investment Counsel Inc. bought a new position in Alamo Group Inc. (NYSE:ALG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,460 shares of the industrial products company’s stock, valued at approximately $984,000.

Other hedge funds have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. lifted its position in shares of Alamo Group by 73.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Alamo Group by 174.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 159 shares during the period. Quarry LP purchased a new stake in shares of Alamo Group in the 2nd quarter worth approximately $48,000. Bessemer Group Inc. lifted its position in shares of Alamo Group by 1,885.7% in the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 264 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alamo Group in the 2nd quarter worth approximately $48,000. 92.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALG. DA Davidson upped their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird decreased their target price on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd.

Alamo Group Stock Performance

Alamo Group stock traded down $1.63 during mid-day trading on Friday, reaching $178.20. 8,725 shares of the company traded hands, compared to its average volume of 74,092. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. Alamo Group Inc. has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.01 and a beta of 1.06. The firm’s fifty day moving average is $177.84 and its two-hundred day moving average is $185.50.

Alamo Group (NYSE:ALG) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. The company had revenue of $416.30 million for the quarter. During the same quarter last year, the firm earned $3.03 EPS. On average, equities research analysts expect that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.58%. Alamo Group’s payout ratio is currently 9.25%.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

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.