Harbor Capital Advisors Inc. Acquires 28,054 Shares of Alamo Group Inc. (NYSE:ALG)

Harbor Capital Advisors Inc. lifted its stake in Alamo Group Inc. (NYSE:ALG) by 152.5% during the 3rd quarter, Holdings Channel reports. The firm owned 46,449 shares of the industrial products company’s stock after acquiring an additional 28,054 shares during the period. Harbor Capital Advisors Inc.’s holdings in Alamo Group were worth $8,367,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALG. Arizona State Retirement System boosted its holdings in Alamo Group by 2.1% during the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares during the last quarter. Diversified Trust Co grew its holdings in Alamo Group by 6.7% during the second quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 97 shares during the period. Louisiana State Employees Retirement System increased its stake in Alamo Group by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after purchasing an additional 100 shares in the last quarter. Aurora Investment Counsel raised its holdings in Alamo Group by 2.0% in the first quarter. Aurora Investment Counsel now owns 5,657 shares of the industrial products company’s stock worth $1,292,000 after purchasing an additional 112 shares during the period. Finally, Texas Permanent School Fund Corp boosted its position in shares of Alamo Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 9,041 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 117 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the transaction, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at $1,384,421.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares of the company’s stock, 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. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on ALG. Robert W. Baird lowered their price objective 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. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

Alamo Group Trading Up 10.6 %

Shares of NYSE:ALG opened at $187.48 on Friday. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 17.75 and a beta of 1.06. Alamo Group Inc. has a 12 month low of $158.16 and a 12 month high of $231.40. The company’s fifty day simple moving average is $177.21 and its 200 day simple moving average is $181.93. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28.

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

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio is presently 9.85%.

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.