Allspring Global Investments Holdings LLC Raises Stock Position in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,902 shares of the industrial products company's stock after acquiring an additional 45,422 shares during the period. Allspring Global Investments Holdings LLC owned approximately 5.33% of Alamo Group worth $115,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Alamo Group by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 759,699 shares of the industrial products company's stock valued at $159,681,000 after acquiring an additional 7,121 shares in the last quarter. Victory Capital Management Inc. increased its stake in Alamo Group by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company's stock valued at $66,888,000 after purchasing an additional 33,190 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Alamo Group by 16.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company's stock worth $64,518,000 after buying an additional 52,250 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company's stock worth $59,635,000 after buying an additional 50,327 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of 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 valued at $39,346,000 after buying an additional 51,292 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALG. StockNews.com cut Alamo Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Robert W. Baird dropped their price objective on Alamo Group from $223.00 to $217.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Finally, DA Davidson boosted their target price on Alamo Group from $209.00 to $219.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at approximately $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 11,061 shares of the company's stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Alamo Group Stock Performance

ALG stock traded down $5.66 on Monday, hitting $171.88. The company had a trading volume of 63,291 shares, compared to its average volume of 74,230. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. Alamo Group Inc. has a 12-month low of $157.74 and a 12-month high of $231.40. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 15.29 and a beta of 1.06. The stock's 50-day simple moving average is $177.98 and its 200 day simple moving average is $184.48.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.44). The firm had revenue of $416.30 million during the quarter. Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. During the same period in the prior year, the firm earned $3.03 earnings per share. As a group, equities research analysts expect that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.61%. Alamo Group's dividend payout ratio (DPR) is 9.25%.

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.