Y Intercept Hong Kong Ltd Lowers Holdings in Alamo Group Inc. (NYSE:ALG)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 36.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,690 shares of the industrial products company’s stock after selling 2,105 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Alamo Group were worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Creative Planning grew its holdings in shares of Alamo Group by 33.2% during the third quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after buying an additional 499 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Alamo Group in the second quarter valued at approximately $4,290,000. Advantage Alpha Capital Partners LP acquired a new position in shares of Alamo Group in the third quarter worth $3,014,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after purchasing an additional 45,422 shares during the last quarter. Finally, Squarepoint Ops LLC increased its stake 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 during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

Shares of ALG opened at $193.10 on Friday. The stock’s fifty day moving average is $187.32 and its 200-day moving average is $181.65. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.45 and a beta of 1.10. Alamo Group Inc. has a one year low of $163.74 and a one year high of $231.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a $0.26 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Analyst Ratings Changes

ALG has been the subject of several research reports. DA Davidson boosted their price objective 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. Robert W. Baird upped their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Insider Transactions at Alamo Group

In other news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.