American Century Companies Inc. lessened its position in shares of Alamo Group Inc. (NYSE:ALG) by 42.1% in the second quarter, HoldingsChannel.com reports. The fund owned 3,430 shares of the industrial products company’s stock after selling 2,499 shares during the period. American Century Companies Inc.’s holdings in Alamo Group were worth $524,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $202,000. Mutual of America Capital Management LLC lifted its holdings in shares of Alamo Group by 7.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,318 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 87 shares during the period. HRT Financial LP bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $207,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $215,000. Finally, Alpha Paradigm Partners LLC bought a new stake in shares of Alamo Group during the 1st quarter worth approximately $221,000. 90.61% of the stock is owned by institutional investors.
In other news, insider Ronald A. Robinson sold 3,012 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $151.29, for a total transaction of $455,685.48. Following the completion of the sale, the insider now directly owns 202,345 shares in the company, valued at $30,612,775.05. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ronald A. Robinson sold 2,614 shares of the stock in a transaction on Thursday, June 24th. The stock was sold at an average price of $152.09, for a total transaction of $397,563.26. Following the sale, the insider now owns 207,855 shares of the company’s stock, valued at $31,612,666.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,443 shares of company stock valued at $3,878,546. Corporate insiders own 3.06% of the company’s stock.
Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.41. Alamo Group had a net margin of 5.78% and a return on equity of 11.59%. The firm had revenue of $347.55 million during the quarter. Analysts predict that Alamo Group Inc. will post 7.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 28th. Shareholders of record on Thursday, July 15th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, July 14th. Alamo Group’s dividend payout ratio (DPR) is currently 9.43%.
ALG has been the subject of several research reports. Zacks Investment Research downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, July 12th. Colliers Securities reissued a “buy” rating on shares of Alamo Group in a research note on Thursday, July 1st.
Alamo Group Company Profile
Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.
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