Nisa Investment Advisors LLC increased its stake in Alamo Group, Inc. (NYSE:ALG – Free Report) by 30.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264 shares of the industrial products company’s stock after acquiring an additional 61 shares during the period. Nisa Investment Advisors LLC’s holdings in Alamo Group were worth $47,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its stake in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 69 shares during the period. Parallel Advisors LLC raised its holdings in Alamo Group by 80.0% during the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. Swiss National Bank boosted its position in Alamo Group by 0.5% during the 4th quarter. Swiss National Bank now owns 20,100 shares of the industrial products company’s stock valued at $3,737,000 after buying an additional 100 shares during the period. New York State Teachers Retirement System grew its holdings in Alamo Group by 4.1% in the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company’s stock worth $448,000 after acquiring an additional 100 shares during the last quarter. Finally, Heritage Family Offices LLP increased its position in shares of Alamo Group by 8.3% in the first quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 104 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, EVP Richard Hodges Raborn sold 500 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total value of $100,920.00. Following the completion of the transaction, the executive vice president owned 12,948 shares in the company, valued at $2,613,424.32. The trade was a 3.72% 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. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, the chief executive officer directly owned 40,913 shares in the company, valued at approximately $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.
Alamo Group Stock Down 0.5%
Alamo Group (NYSE:ALG – Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.32. The firm had revenue of $390.95 million during the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. On average, research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.
Alamo Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.55%. Alamo Group’s dividend payout ratio is presently 12.50%.
Analyst Ratings Changes
Several equities analysts recently issued reports on ALG shares. DA Davidson reduced their price target on shares of Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Wall Street Zen upgraded Alamo Group from a “hold” rating to a “buy” rating in a report on Saturday, June 14th.
Get Our Latest Analysis on Alamo Group
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.
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