Trust Point Inc. Lowers Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Trust Point Inc. lessened its stake in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 47.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,725 shares of the industrial products company's stock after selling 1,571 shares during the period. Trust Point Inc.'s holdings in Alamo Group were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALG. Bank of Montreal Can lifted its stake in shares of Alamo Group by 8.6% in the 2nd quarter. Bank of Montreal Can now owns 2,204 shares of the industrial products company's stock valued at $400,000 after acquiring an additional 175 shares during the last quarter. Marshall Wace LLP raised its position in Alamo Group by 94.1% in the second quarter. Marshall Wace LLP now owns 3,904 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 1,893 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Alamo Group by 543.8% during the second quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company's stock valued at $4,881,000 after purchasing an additional 23,829 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Alamo Group during the second quarter worth about $643,000. Finally, Inspire Investing LLC bought a new stake in shares of Alamo Group during the third quarter worth about $887,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company's stock.

Alamo Group Price Performance

Shares of ALG stock traded up $1.69 during trading hours on Friday, reaching $184.98. The stock had a trading volume of 85,263 shares, compared to its average volume of 93,119. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The stock's fifty day simple moving average is $187.00 and its 200 day simple moving average is $183.52. 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 firm has a market capitalization of $2.23 billion, a PE ratio of 18.63 and a beta of 1.10.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 annualized dividend and a yield of 0.65%. This is a positive change from Alamo Group's previous quarterly dividend of $0.26. Alamo Group's payout ratio is 12.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALG shares. Robert W. Baird raised their price objective on 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 lowered Alamo Group from a "buy" rating to a "hold" rating in a research report on Thursday, January 30th.

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.