Victory Capital Management Inc. Acquires 33,294 Shares of Alamo Group Inc. (NYSE:ALG)

Victory Capital Management Inc. lifted its position in Alamo Group Inc. (NYSE:ALG - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 448,718 shares of the industrial products company's stock after purchasing an additional 33,294 shares during the quarter. Victory Capital Management Inc. owned 3.72% of Alamo Group worth $83,421,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALG. Nisa Investment Advisors LLC boosted its position in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company's stock valued at $32,000 after buying an additional 154 shares in the last quarter. JNBA Financial Advisors acquired a new position in shares of Alamo Group in the 3rd quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its holdings in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 168 shares in the last quarter. KBC Group NV increased its holdings in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 189 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company's stock worth $121,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 92.36% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on ALG shares. DA Davidson cut their price target on Alamo Group from $219.00 to $217.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Robert W. Baird lowered shares of Alamo Group from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th. StockNews.com downgraded Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research note on Monday, March 3rd.

Insider Activity at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now owns 3,360 shares of the company's stock, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Alamo Group Trading Up 1.6 %

Shares of ALG traded up $2.93 on Monday, reaching $186.59. 155,098 shares of the company's stock were exchanged, compared to its average volume of 106,702. The business has a 50 day moving average price of $183.01 and a two-hundred day moving average price of $184.17. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $228.88. The stock has a market capitalization of $2.25 billion, a P/E ratio of 18.79 and a beta of 1.10. 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 (NYSE:ALG - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.16. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. The company had revenue of $385.32 million for the quarter, compared to the consensus estimate of $396.85 million. Research analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This is a boost from Alamo Group's previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. Alamo Group's dividend payout ratio is 12.46%.

Alamo Group Company 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.