Allspring Global Investments Holdings LLC Acquires 30,826 Shares of Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 672,728 shares of the industrial products company's stock after buying an additional 30,826 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 5.58% of Alamo Group worth $121,205,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in Alamo Group during the third quarter worth about $887,000. Wedge Capital Management L L P NC bought a new position in Alamo Group during the third quarter worth about $3,945,000. Creative Planning boosted its position in Alamo Group by 33.2% during the third quarter. Creative Planning now owns 2,004 shares of the industrial products company's stock worth $361,000 after purchasing an additional 499 shares during the period. Trust Point Inc. boosted its position in Alamo Group by 50.4% during the third quarter. Trust Point Inc. now owns 3,296 shares of the industrial products company's stock worth $594,000 after purchasing an additional 1,104 shares during the period. Finally, Laurus Investment Counsel Inc. bought a new position in Alamo Group during the third quarter worth about $984,000. Institutional investors own 92.36% of the company's stock.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the firm'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 sale, the vice president now directly owns 3,360 shares of the company's stock, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Alamo Group Price Performance

Shares of Alamo Group stock traded down $0.45 on Friday, reaching $184.77. The stock had a trading volume of 52,206 shares, compared to its average volume of 93,119. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $228.88. The company has a market cap of $2.23 billion, a P/E ratio of 18.61 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. The business's 50 day moving average is $185.90 and its two-hundred day moving average is $183.45.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a $0.30 dividend. This is an increase from Alamo Group's previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group's dividend payout ratio (DPR) is currently 12.08%.

Wall Street Analysts Forecast Growth

ALG has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Tuesday.

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.