JPMorgan Chase & Co. Increases Stock Position in Alamo Group Inc. (NYSE:ALG)

JPMorgan Chase & Co. boosted its holdings in Alamo Group Inc. (NYSE:ALG - Free Report) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,555 shares of the industrial products company's stock after purchasing an additional 9,710 shares during the quarter. JPMorgan Chase & Co. owned about 0.63% of Alamo Group worth $13,790,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake 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 purchasing an additional 45,422 shares during the period. Victory Capital Management Inc. increased its position in 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 period. State Street Corp increased its position in Alamo Group by 2.6% in the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company's stock valued at $70,562,000 after acquiring an additional 10,013 shares during the period. Westwood Holdings Group Inc. raised its stake in 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 during the last quarter. Finally, Geode Capital Management LLC lifted its position in Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company's stock worth $41,834,000 after acquiring an additional 670 shares during the period. Institutional investors and hedge funds own 92.36% of the company's stock.

Alamo Group Stock Performance

Shares of NYSE:ALG traded down $3.19 during midday trading on Friday, hitting $172.96. The stock had a trading volume of 114,584 shares, compared to its average volume of 101,912. The company has a market capitalization of $2.09 billion, a PE ratio of 17.42 and a beta of 1.11. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $231.40. The stock has a 50 day moving average price of $191.49 and a two-hundred day moving average price of $182.27. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th will be issued a $0.30 dividend. This is a boost from Alamo Group's previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, January 16th. Alamo Group's dividend payout ratio (DPR) is currently 12.08%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their target price on Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, November 4th.

Insider Activity at Alamo Group

In other Alamo Group news, 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 value of $54,062.88. Following the completion of the transaction, the executive vice president now directly owns 8,439 shares of the company's stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Janet S. Pollock sold 257 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company's stock.

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.