Harbor Capital Advisors Inc. Buys 28,054 Shares of Alamo Group Inc. (NYSE:ALG)

Harbor Capital Advisors Inc. raised its holdings in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 152.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,449 shares of the industrial products company's stock after acquiring an additional 28,054 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.39% of Alamo Group worth $8,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in Alamo Group by 700.0% in the 3rd 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. First Horizon Advisors Inc. boosted its holdings in shares of Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alamo Group during the second quarter valued at approximately $48,000. Quarry LP bought a new stake in Alamo Group during the second quarter worth approximately $48,000. Finally, nVerses Capital LLC acquired a new stake in Alamo Group in the second quarter worth approximately $52,000. Institutional investors own 92.36% of the company's stock.

Alamo Group Trading Up 10.6 %

Shares of ALG stock traded up $17.94 during trading hours on Friday, reaching $187.48. 264,679 shares of the stock traded hands, compared to its average volume of 80,895. The business has a fifty day moving average price of $177.21 and a 200 day moving average price of $181.76. Alamo Group Inc. has a 1-year low of $158.16 and a 1-year high of $231.40. The company has a quick ratio of 2.52, a current ratio of 4.37 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.26 billion, a PE ratio of 18.88 and a beta of 1.08.

Alamo Group (NYSE:ALG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.44). Alamo Group had a net margin of 7.19% and a return on equity of 12.61%. The business had revenue of $416.30 million for the quarter. During the same quarter last year, the company earned $3.03 EPS. On average, equities research analysts forecast that Alamo Group Inc. will post 10.23 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group's dividend payout ratio (DPR) is 10.47%.

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 in the company, valued at $2,005,138.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction, the executive vice president now owns 7,765 shares in the company, valued at approximately $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, 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 corporate insiders.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research analyst reports. DA Davidson lifted their price target on Alamo Group from $209.00 to $219.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a report on Wednesday, July 17th. Finally, Robert W. Baird cut their price objective on Alamo Group from $223.00 to $217.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd.

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.