Grandeur Peak Global Advisors LLC Sells 3,440 Shares of Alamo Group, Inc. $ALG

Grandeur Peak Global Advisors LLC trimmed its position in Alamo Group, Inc. (NYSE:ALG) by 25.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,935 shares of the industrial products company’s stock after selling 3,440 shares during the quarter. Grandeur Peak Global Advisors LLC’s holdings in Alamo Group were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ALG. Hsbc Holdings PLC boosted its holdings in shares of Alamo Group by 18.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,018 shares of the industrial products company’s stock worth $337,000 after buying an additional 311 shares during the period. Jefferies Financial Group Inc. bought a new position in Alamo Group in the 2nd quarter worth $605,000. Public Employees Retirement System of Ohio acquired a new position in Alamo Group during the 2nd quarter worth $1,604,000. Corient Private Wealth LP acquired a new position in Alamo Group during the 2nd quarter worth $324,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in Alamo Group during the second quarter valued at about $12,434,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Price Performance

NYSE:ALG opened at $165.09 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.39 and a quick ratio of 2.48. Alamo Group, Inc. has a one year low of $145.76 and a one year high of $219.88. The company has a fifty day moving average price of $164.36 and a 200 day moving average price of $168.79. The stock has a market cap of $2.01 billion, a P/E ratio of 19.79, a PEG ratio of 0.98 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.08. Alamo Group had a net margin of 6.08% and a return on equity of 9.83%. The company had revenue of $450.73 million for the quarter, compared to analyst estimates of $437.48 million. Analysts anticipate that Alamo Group, Inc. will post 10.56 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. Alamo Group’s payout ratio is currently 16.31%.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 2,715 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president owned 8,142 shares in the company, valued at approximately $1,338,626.22. This represents a 25.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ALG has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Alamo Group in a research report on Friday, August 21st. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.00.

Alamo Group Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.