Tributary Capital Management LLC raised its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 16.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 116,584 shares of the industrial products company's stock after purchasing an additional 16,093 shares during the period. Alamo Group accounts for about 1.7% of Tributary Capital Management LLC's investment portfolio, making the stock its 27th biggest holding. Tributary Capital Management LLC owned approximately 0.97% of Alamo Group worth $21,674,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new stake in Alamo Group in the 3rd quarter worth $37,000. Quarry LP bought a new position in Alamo Group during the second quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Alamo Group during the 2nd quarter valued at approximately $48,000. Finally, Huntington National Bank increased its stake in Alamo Group by 10.4% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.
Insider Activity
In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company's stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on ALG. StockNews.com raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, November 4th.
Read Our Latest Stock Report on Alamo Group
Alamo Group Trading Up 0.6 %
ALG traded up $1.17 during trading on Friday, reaching $185.40. The company had a trading volume of 53,748 shares, compared to its average volume of 90,388. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $189.25 and a 200-day simple moving average of $183.00. The stock has a market cap of $2.24 billion, a P/E ratio of 18.67 and a beta of 1.11.
Alamo Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Thursday, January 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. This is a boost from Alamo Group's previous quarterly dividend of $0.26. Alamo Group's payout ratio is presently 12.08%.
Alamo Group Company Profile
(
Free Report)
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.
See Also
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