Alamo Group Inc. (NYSE:ALG) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC trimmed its position in shares of Alamo Group Inc. (NYSE:ALG) by 22.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,440 shares of the industrial products company’s stock after selling 1,553 shares during the period. ClariVest Asset Management LLC’s holdings in Alamo Group were worth $941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. boosted its holdings in Alamo Group by 73.4% during the 1st quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares during the period. Shaker Investments LLC OH grew its holdings in shares of Alamo Group by 1.5% in the first quarter. Shaker Investments LLC OH now owns 3,991 shares of the industrial products company’s stock valued at $911,000 after purchasing an additional 58 shares in the last quarter. Arizona State Retirement System increased its stake in Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares during the period. Diversified Trust Co lifted its holdings in Alamo Group by 5.2% during the 1st quarter. Diversified Trust Co now owns 1,451 shares of the industrial products company’s stock worth $331,000 after buying an additional 72 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Alamo Group by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after buying an additional 100 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, DA Davidson upped their target price 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.

Alamo Group Price Performance

Alamo Group stock opened at $174.11 on Thursday. The stock has a market cap of $2.10 billion, a P/E ratio of 15.49 and a beta of 1.07. The company has a fifty day simple moving average of $178.36 and a 200-day simple moving average of $190.84. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40.

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

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Tuesday, July 16th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.60%. Alamo Group’s payout ratio is currently 9.25%.

Insider Transactions at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 $1,384,421.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred 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 directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The disclosure for this sale can be found here. 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.