Allspring Global Investments Holdings LLC Increases Position in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC lifted its position in Alamo Group Inc. (NYSE:ALG) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 641,902 shares of the industrial products company’s stock after acquiring an additional 45,422 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Alamo Group worth $115,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new position in shares of Alamo Group in the first quarter valued at about $1,067,000. Vaughan Nelson Investment Management L.P. increased its holdings in Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares during the period. Janus Henderson Group PLC raised its position in Alamo Group by 42.4% during the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alamo Group by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company’s stock valued at $159,681,000 after acquiring an additional 7,121 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Alamo Group in the 2nd quarter valued at $4,290,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Activity at Alamo Group

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

Wall Street Analyst Weigh In

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

Alamo Group Price Performance

NYSE:ALG opened at $177.54 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.37 and a quick ratio of 2.52. The company has a 50 day moving average price of $177.94 and a 200-day moving average price of $184.79. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 15.80 and a beta of 1.06.

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

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Alamo Group’s dividend payout ratio (DPR) is 9.25%.

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.