Victory Capital Management Inc. Acquires 28,786 Shares of Alamo Group Inc. (NYSE:ALG)

Victory Capital Management Inc. increased its holdings in Alamo Group Inc. (NYSE:ALG - Free Report) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,424 shares of the industrial products company's stock after purchasing an additional 28,786 shares during the period. Victory Capital Management Inc. owned approximately 3.44% of Alamo Group worth $74,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its stake in Alamo Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 9,041 shares of the industrial products company's stock worth $2,064,000 after acquiring an additional 117 shares in the last quarter. Sei Investments Co. increased its position in shares of Alamo Group by 7.6% during the 1st quarter. Sei Investments Co. now owns 12,300 shares of the industrial products company's stock worth $2,808,000 after purchasing an additional 873 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Alamo Group by 15.3% in the first quarter. Russell Investments Group Ltd. now owns 6,570 shares of the industrial products company's stock valued at $1,500,000 after buying an additional 873 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Alamo Group during the first quarter worth $1,067,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Alamo Group in the first quarter valued at $466,000. Institutional investors own 92.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALG shares. DA Davidson increased their price objective 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 boosted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, StockNews.com downgraded Alamo Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th.

Alamo Group Stock Down 1.3 %

Shares of NYSE ALG traded down $2.51 during midday trading on Thursday, reaching $193.01. The company's stock had a trading volume of 84,886 shares, compared to its average volume of 76,446. The stock has a 50 day simple moving average of $178.91 and a 200-day simple moving average of $181.36. 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 stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.74 and a beta of 1.08. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.54%. Alamo Group's payout ratio is currently 10.47%.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares of the company's stock, valued at approximately $1,384,421.85. This represents a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 898 shares of company stock valued at $165,856 in the last three months. 1.40% of the stock is currently owned by corporate 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.