Assenagon Asset Management S.A. Sells 41,656 Shares of Alamo Group Inc. (NYSE:ALG)

Assenagon Asset Management S.A. decreased its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 58.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,530 shares of the industrial products company’s stock after selling 41,656 shares during the period. Assenagon Asset Management S.A.’s holdings in Alamo Group were worth $5,490,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALG. American Century Companies Inc. boosted its holdings in Alamo Group by 50.5% during the second quarter. American Century Companies Inc. now owns 7,512 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 2,521 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Alamo Group by 126.9% during the second quarter. Envestnet Asset Management Inc. now owns 20,035 shares of the industrial products company’s stock worth $3,466,000 after purchasing an additional 11,206 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Alamo Group during the second quarter worth $4,290,000. XTX Topco Ltd boosted its holdings in Alamo Group by 57.6% during the second quarter. XTX Topco Ltd now owns 3,194 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Alamo Group by 34.9% during the second quarter. Sei Investments Co. now owns 16,594 shares of the industrial products company’s stock worth $2,872,000 after purchasing an additional 4,294 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

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

Analyst Upgrades and Downgrades

Separately, Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Alamo Group Stock Performance

Shares of ALG stock opened at $182.46 on Tuesday. The stock has a market cap of $2.20 billion, a P/E ratio of 18.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The company has a fifty day moving average price of $189.98 and a two-hundred day moving average price of $182.72. Alamo Group Inc. has a one year low of $163.74 and a one year high of $231.40.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is currently 10.47%.

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.