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

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

A number of other institutional investors also recently bought and sold shares of the company. Trust Point Inc. raised its stake in Alamo Group by 50.4% during the third quarter. Trust Point Inc. now owns 3,296 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 1,104 shares during the period. Creative Planning grew its holdings in shares of Alamo Group by 33.2% in the third quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 499 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Alamo Group in the third quarter valued at approximately $3,945,000. Inspire Investing LLC acquired a new position in shares of Alamo Group in the third quarter valued at approximately $887,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Alamo Group in the second quarter valued at approximately $643,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Stock Down 0.9 %

Alamo Group stock traded down $1.63 during trading on Friday, reaching $178.20. The stock had a trading volume of 8,725 shares, compared to its average volume of 74,092. The stock has a market cap of $2.15 billion, a PE ratio of 16.01 and a beta of 1.06. 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 Inc. has a 52-week low of $157.74 and a 52-week high of $231.40. The business has a 50 day moving average price of $177.84 and a 200 day moving average price of $185.50.

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

Alamo Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. DA Davidson lifted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 directly 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 disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Alamo Group 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.