Advantage Alpha Capital Partners LP Makes New $3.01 Million Investment in Alamo Group Inc. (NYSE:ALG)

Advantage Alpha Capital Partners LP bought a new position in Alamo Group Inc. (NYSE:ALG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,732 shares of the industrial products company's stock, valued at approximately $3,014,000. Advantage Alpha Capital Partners LP owned about 0.14% of Alamo Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in Alamo Group by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company's stock valued at $115,626,000 after buying an additional 45,422 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company's stock valued at $74,830,000 after acquiring an additional 28,786 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Alamo Group by 16.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company's stock valued at $64,518,000 after acquiring an additional 52,250 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company's stock valued at $59,635,000 after acquiring an additional 50,327 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company's stock worth $39,346,000 after purchasing an additional 51,292 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALG. DA Davidson increased 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 raised 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

ALG stock traded down $4.86 during mid-day trading on Tuesday, reaching $197.75. The company had a trading volume of 117,883 shares, compared to its average volume of 76,537. Alamo Group Inc. has a one year low of $163.74 and a one year high of $231.40. The stock has a market capitalization of $2.38 billion, a P/E ratio of 20.41 and a beta of 1.08. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $182.27 and its two-hundred day simple moving average is $181.26.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group's payout ratio is 10.47%.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 11,061 shares of the company's stock, valued at approximately $2,005,138.08. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Edward Rizzuti sold 276 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

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.