Alamo Group Inc. (NYSE:ALG) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Alamo Group Inc. (NYSE:ALG) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,166 shares of the industrial products company’s stock after buying an additional 801 shares during the quarter. Rhumbline Advisers’ holdings in Alamo Group were worth $6,166,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Alamo Group during the third quarter valued at $35,759,000. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after purchasing an additional 30,826 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Alamo Group by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after purchasing an additional 28,786 shares during the period. Harbor Capital Advisors Inc. grew its position in Alamo Group by 152.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock worth $8,367,000 after purchasing an additional 28,054 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Alamo Group in the third quarter valued at approximately $3,014,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALG shares. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price target on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th.

Alamo Group Stock Down 0.7 %

Alamo Group stock opened at $185.18 on Thursday. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $228.88. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.65 and a beta of 1.10. The company’s 50-day moving average price is $184.30 and its two-hundred day moving average price is $183.91. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is currently 12.08%.

Insiders Place Their Bets

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

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.