Vaughan Nelson Investment Management L.P. Reduces Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Vaughan Nelson Investment Management L.P. reduced its position in Alamo Group Inc. (NYSE:ALG - Free Report) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,423 shares of the industrial products company's stock after selling 50,515 shares during the period. Vaughan Nelson Investment Management L.P. owned about 2.67% of Alamo Group worth $58,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. raised its position in Alamo Group by 7.6% during the first quarter. Sei Investments Co. now owns 12,300 shares of the industrial products company's stock worth $2,808,000 after acquiring an additional 873 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Alamo Group by 15.3% in the 1st quarter. Russell Investments Group Ltd. now owns 6,570 shares of the industrial products company's stock valued at $1,500,000 after buying an additional 873 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Alamo Group during the 1st quarter valued at $1,067,000. UniSuper Management Pty Ltd purchased a new position in Alamo Group during the first quarter worth $466,000. Finally, Bessemer Group Inc. raised its holdings in shares of Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company's stock worth $63,000 after acquiring an additional 264 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction dated 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 transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 898 shares of company stock valued at $165,856. Insiders own 1.40% of the company's stock.

Alamo Group Trading Up 0.7 %

Shares of NYSE:ALG traded up $1.30 during midday trading on Friday, reaching $194.31. The company's stock had a trading volume of 98,701 shares, compared to its average volume of 96,883. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 19.57 and a beta of 1.08. The business has a 50 day moving average price of $179.79 and a 200 day moving average price of $181.32. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year 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.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Alamo Group's payout ratio is currently 10.47%.

Analyst Ratings Changes

A number of analysts recently commented on ALG shares. DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th. Robert W. Baird lifted their price target on shares of Alamo Group from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, November 4th.

About Alamo Group

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.