Tidal Investments LLC Purchases 113 Shares of Alamo Group Inc. (NYSE:ALG)

Tidal Investments LLC boosted its position in shares of Alamo Group Inc. (NYSE:ALG) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,093 shares of the industrial products company’s stock after acquiring an additional 113 shares during the quarter. Tidal Investments LLC’s holdings in Alamo Group were worth $557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after buying an additional 45,422 shares during the last quarter. Victory Capital Management Inc. grew its position in Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after acquiring an additional 28,786 shares during the last quarter. State Street Corp grew its position in Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after acquiring an additional 10,013 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after purchasing an additional 50,327 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after purchasing an additional 670 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the sale, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Janet S. Pollock sold 257 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Alamo Group Price Performance

ALG opened at $188.34 on Monday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 18.97 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $231.40. The business’s fifty day simple moving average is $189.39 and its 200-day simple moving average is $181.79.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is 10.47%.

Wall Street Analysts Forecast Growth

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

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.