Allspring Global Investments Holdings LLC Buys 30,826 Shares of Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group Inc. (NYSE:ALG) by 4.8% in the 4th quarter, HoldingsChannel reports. The fund owned 672,728 shares of the industrial products company’s stock after purchasing an additional 30,826 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Alamo Group worth $121,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Alamo Group by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after acquiring an additional 28,786 shares during the period. State Street Corp boosted its holdings in shares of 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 purchasing an additional 10,013 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alamo Group by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after purchasing an additional 670 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Alamo Group in the 3rd quarter valued at $35,759,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Alamo Group by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 175,073 shares of the industrial products company’s stock worth $31,537,000 after buying an additional 575 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALG. Robert W. Baird raised their price objective on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Alamo Group Stock Up 0.9 %

Shares of NYSE:ALG opened at $187.49 on Wednesday. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $231.40. The company has a market capitalization of $2.26 billion, a PE ratio of 18.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The company has a fifty day moving average of $186.67 and a 200-day moving average of $183.48.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio is presently 12.08%.

Alamo Group Company 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.