Vaughan Nelson Investment Management L.P. raised its stake in Alamo Group, Inc. (NYSE:ALG – Free Report) by 53.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 358,435 shares of the industrial products company’s stock after buying an additional 124,845 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Alamo Group were worth $59,131,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Alamo Group by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 785,735 shares of the industrial products company’s stock valued at $149,997,000 after buying an additional 9,571 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Alamo Group by 9.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock worth $113,562,000 after acquiring an additional 57,456 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Alamo Group by 209.0% during the 4th quarter. Natixis Advisors LLC now owns 49,217 shares of the industrial products company’s stock worth $8,262,000 after acquiring an additional 33,291 shares in the last quarter. UBS Group AG lifted its position in Alamo Group by 26.7% during the fourth quarter. UBS Group AG now owns 58,708 shares of the industrial products company’s stock valued at $9,855,000 after acquiring an additional 12,361 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC lifted its position in Alamo Group by 52.5% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 95,931 shares of the industrial products company’s stock valued at $18,313,000 after acquiring an additional 33,042 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.
Alamo Group Price Performance
Shares of ALG stock opened at $161.19 on Monday. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $233.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.45 and a current ratio of 4.32. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 0.95 and a beta of 1.11. The stock’s 50-day simple moving average is $159.95 and its 200-day simple moving average is $175.04.
Alamo Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.8%. Alamo Group’s dividend payout ratio is presently 16.27%.
Insider Transactions at Alamo Group
In other Alamo Group news, EVP Edward Rizzuti sold 600 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $170.93, for a total value of $102,558.00. Following the completion of the transaction, the executive vice president owned 10,857 shares of the company’s stock, valued at approximately $1,855,787.01. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. DA Davidson lowered their target price on shares of Alamo Group from $190.00 to $188.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, William Blair assumed coverage on Alamo Group in a research report on Monday, March 16th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.00.
View Our Latest Analysis on ALG
Alamo Group Profile
Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.
The company operates through two primary segments: Agricultural and Industrial.
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