First National Bank of Omaha purchased a new stake in Alamo Group, Inc. (NYSE:ALG – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,485 shares of the industrial products company’s stock, valued at approximately $573,000.
A number of other institutional investors have also modified their holdings of the business. Global Retirement Partners LLC bought a new position in Alamo Group in the second quarter worth about $35,000. Jones Financial Companies Lllp boosted its stake in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 314 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Alamo Group during the second quarter valued at approximately $87,000. Kestra Advisory Services LLC bought a new position in shares of Alamo Group during the fourth quarter valued at approximately $76,000. Finally, Globeflex Capital L P acquired a new stake in shares of Alamo Group during the 2nd quarter worth approximately $100,000. Institutional investors own 92.36% of the company’s stock.
Alamo Group Trading Up 1.7%
Shares of NYSE:ALG opened at $162.01 on Thursday. The company has a quick ratio of 2.48, a current ratio of 4.39 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $163.27 and its 200 day moving average price is $170.63. The company has a market cap of $1.97 billion, a PE ratio of 19.43, a P/E/G ratio of 0.94 and a beta of 1.10. Alamo Group, Inc. has a fifty-two week low of $145.76 and a fifty-two week high of $224.67.
Alamo Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, July 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s payout ratio is currently 16.31%.
Insider Transactions at Alamo Group
In related news, EVP Edward Rizzuti sold 2,715 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $164.41, for a total value of $446,373.15. Following the completion of the transaction, the executive vice president directly owned 8,142 shares of the company’s stock, valued at $1,338,626.22. This represents a 25.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.06% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. DA Davidson restated a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.00.
Read Our Latest Stock Analysis on Alamo Group
About Alamo Group
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.
See Also
- Five stocks we like better than Alamo Group
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding ALG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alamo Group, Inc. (NYSE:ALG – Free Report).
Receive News & Ratings for Alamo Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alamo Group and related companies with MarketBeat.com's FREE daily email newsletter.
