Hodges Capital Management Inc. Sells 6,613 Shares of Alamo Group Inc. (NYSE:ALG)

Hodges Capital Management Inc. cut its position in shares of Alamo Group Inc. (NYSE:ALG) by 16.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,053 shares of the industrial products company’s stock after selling 6,613 shares during the period. Hodges Capital Management Inc.’s holdings in Alamo Group were worth $7,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Alamo Group by 42.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 399,190 shares of the industrial products company’s stock valued at $83,906,000 after buying an additional 119,636 shares during the period. RK Capital Management LLC boosted its holdings in Alamo Group by 81.2% during the 4th quarter. RK Capital Management LLC now owns 54,260 shares of the industrial products company’s stock valued at $11,405,000 after acquiring an additional 24,310 shares during the period. Cerity Partners LLC grew its position in Alamo Group by 75.0% in the 4th quarter. Cerity Partners LLC now owns 53,570 shares of the industrial products company’s stock valued at $11,260,000 after acquiring an additional 22,951 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Alamo Group by 119.2% during the third quarter. AQR Capital Management LLC now owns 29,635 shares of the industrial products company’s stock worth $5,123,000 after purchasing an additional 16,115 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Alamo Group by 5.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 267,493 shares of the industrial products company’s stock valued at $56,225,000 after purchasing an additional 14,155 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ALG. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. DA Davidson reduced 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 Up 1.2 %

Shares of ALG stock traded up $1.99 on Friday, hitting $173.00. The stock had a trading volume of 216,295 shares, compared to its average volume of 76,542. Alamo Group Inc. has a one year low of $157.74 and a one year high of $231.40. The business has a 50 day moving average price of $188.77 and a 200 day moving average price of $202.53. The company has a market cap of $2.08 billion, a PE ratio of 15.39 and a beta of 1.05. 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 posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The business had revenue of $425.59 million during the quarter. During the same quarter in the prior year, the firm posted $2.79 EPS. Research analysts anticipate that Alamo Group Inc. will post 12.3 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were given a dividend of $0.26 per share. The ex-dividend date was Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 0.60%. Alamo Group’s dividend payout ratio (DPR) is presently 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.