Inspire Investing LLC Acquires New Position in Alamo Group Inc. (NYSE:ALG)

Inspire Investing LLC purchased a new position in Alamo Group Inc. (NYSE:ALG - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,925 shares of the industrial products company's stock, valued at approximately $887,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in Alamo Group in the second quarter valued at $643,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Alamo Group in the 2nd quarter valued at about $48,000. Quarry LP acquired a new stake in shares of Alamo Group during the 2nd quarter worth about $48,000. Millennium Management LLC lifted its stake in Alamo Group by 543.8% during the second quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company's stock worth $4,881,000 after purchasing an additional 23,829 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Alamo Group by 366.0% in the second quarter. Squarepoint Ops LLC now owns 20,928 shares of the industrial products company's stock valued at $3,621,000 after purchasing an additional 16,437 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Stock Performance

NYSE ALG traded up $2.75 on Tuesday, reaching $181.57. The stock had a trading volume of 95,818 shares, compared to its average volume of 74,121. The stock has a market cap of $2.19 billion, a P/E ratio of 16.15 and a beta of 1.06. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40. The business's 50-day moving average price is $177.48 and its 200 day moving average price is $185.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37.

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

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, October 15th. Alamo Group's dividend payout ratio is currently 9.25%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALG shares. DA Davidson raised their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. StockNews.com cut shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird dropped their price objective on Alamo Group from $223.00 to $217.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd.

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares of the company's stock, valued at $2,005,138.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Edward Rizzuti sold 322 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares in the company, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

About Alamo Group

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.