Principal Financial Group Inc. Increases Holdings in Alamo Group Inc. (NYSE:ALG)

Principal Financial Group Inc. grew its position in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,936 shares of the industrial products company's stock after purchasing an additional 2,200 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Alamo Group worth $10,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings 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 worth $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new position in Alamo Group during the 3rd quarter valued at about $37,000. KBC Group NV increased its position in shares of 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 during the last quarter. Huntington National Bank raised its position 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 acquiring an additional 63 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Alamo Group by 192.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company's stock valued at $146,000 after buying an additional 534 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

ALG has been the topic of a number of research analyst reports. StockNews.com upgraded Alamo Group from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. DA Davidson dropped their target price on Alamo Group from $219.00 to $217.00 and set a "buy" rating on the stock in a research report on Monday. Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, Robert W. Baird lowered Alamo Group from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $224.00 to $177.00 in a research report on Friday.

Alamo Group Trading Down 0.6 %

Shares of Alamo Group stock traded down $1.03 during mid-day trading on Tuesday, hitting $174.99. The stock had a trading volume of 74,120 shares, compared to its average volume of 102,415. The firm has a 50-day moving average of $183.63 and a two-hundred day moving average of $184.13. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $228.88. The firm has a market cap of $2.11 billion, a P/E ratio of 17.63 and a beta of 1.10.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.16. The company had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Alamo Group had a return on equity of 12.41% and a net margin of 7.19%. Sell-side analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a $0.30 dividend. The ex-dividend date 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 yield of 0.69%. Alamo Group's dividend payout ratio (DPR) is currently 12.46%.

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.