Alamo Group Inc. (NYSE:ALG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in Alamo Group Inc. (NYSE:ALG) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,000 shares of the industrial products company’s stock after selling 11,179 shares during the period. Handelsbanken Fonder AB owned 0.58% of Alamo Group worth $13,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Alamo Group by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company’s stock valued at $10,585,000 after acquiring an additional 2,200 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Alamo Group by 2.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 11,008 shares of the industrial products company’s stock valued at $2,046,000 after acquiring an additional 303 shares during the last quarter. Rhumbline Advisers grew its stake in Alamo Group by 2.5% in the 4th quarter. Rhumbline Advisers now owns 33,166 shares of the industrial products company’s stock valued at $6,166,000 after acquiring an additional 801 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Alamo Group in the 4th quarter valued at about $1,842,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after acquiring an additional 30,826 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ALG. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Robert W. Baird upped their target price 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 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 transaction of $49,706.37. Following the transaction, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Alamo Group Price Performance

NYSE:ALG opened at $188.54 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 18.99 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. The company’s 50-day moving average is $185.04 and its two-hundred day moving average is $183.43. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $228.88.

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%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, January 16th. Alamo Group’s dividend payout ratio is 12.08%.

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.