King Luther Capital Management Corp Cuts Position in Alamo Group Inc. (NYSE:ALG)

King Luther Capital Management Corp trimmed its position in Alamo Group Inc. (NYSE:ALG) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,586 shares of the industrial products company’s stock after selling 623 shares during the quarter. King Luther Capital Management Corp owned 0.40% of Alamo Group worth $8,752,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of Alamo Group by 5,380.0% in the 1st quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 269 shares during the period. FMR LLC raised its holdings in shares of Alamo Group by 17.4% during the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company’s stock valued at $81,000 after buying an additional 104 shares during the period. KBC Group NV raised its holdings in shares of Alamo Group by 10.7% during the 1st quarter. KBC Group NV now owns 877 shares of the industrial products company’s stock valued at $162,000 after buying an additional 85 shares during the period. Captrust Financial Advisors raised its holdings in shares of Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock valued at $139,000 after buying an additional 223 shares during the period. Finally, AXA S.A. purchased a new stake in shares of Alamo Group during the 1st quarter valued at about $239,000. 91.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALG. Robert W. Baird began coverage on Alamo Group in a report on Thursday, August 31st. They set an “outperform” rating and a $201.00 target price on the stock. Raymond James dropped their target price on Alamo Group from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com began coverage on Alamo Group in a report on Thursday, October 5th. They set a “buy” rating on the stock.

Alamo Group Price Performance

ALG stock opened at $186.40 on Tuesday. The company has a quick ratio of 2.29, a current ratio of 3.98 and a debt-to-equity ratio of 0.35. Alamo Group Inc. has a 52-week low of $137.47 and a 52-week high of $200.81. The stock’s 50 day moving average is $172.84 and its two-hundred day moving average is $177.69. The company has a market capitalization of $2.24 billion, a PE ratio of 16.69 and a beta of 1.02.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.88 annualized dividend and a yield of 0.47%. Alamo Group’s dividend payout ratio is presently 7.88%.

Insiders Place Their Bets

In other Alamo Group news, EVP Dan Edward Malone sold 1,394 shares of Alamo Group stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $182.14, for a total transaction of $253,903.16. Following the sale, the executive vice president now directly owns 5,799 shares in the company, valued at approximately $1,056,229.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by company 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.