Bank of America Corp DE Buys 116,404 Shares of Alamo Group Inc. (NYSE:ALG)

Bank of America Corp DE increased its stake in Alamo Group Inc. (NYSE:ALG) by 826.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,494 shares of the industrial products company’s stock after acquiring an additional 116,404 shares during the period. Bank of America Corp DE’s holdings in Alamo Group were worth $24,260,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Alamo Group by 34.3% in the 4th quarter. BNP Paribas Financial Markets now owns 8,109 shares of the industrial products company’s stock worth $1,508,000 after purchasing an additional 2,069 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company’s stock worth $21,539,000 after buying an additional 89,430 shares during the last quarter. Algert Global LLC boosted its stake in Alamo Group by 4.3% in the fourth quarter. Algert Global LLC now owns 22,491 shares of the industrial products company’s stock worth $4,181,000 after buying an additional 930 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Alamo Group by 125.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,400 shares of the industrial products company’s stock worth $1,004,000 after buying an additional 3,000 shares in the last quarter. Finally, Northern Trust Corp grew its position in Alamo Group by 7.7% during the fourth quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company’s stock valued at $31,100,000 after acquiring an additional 11,930 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Insider Activity

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total transaction of $705,320.00. Following the completion of the transaction, the chief executive officer now owns 40,913 shares in the company, valued at $8,244,787.76. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Hodges Raborn sold 500 shares of the firm’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 sale, the executive vice president now directly owns 12,948 shares of the company’s stock, valued at $2,613,424.32. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Alamo Group Stock Performance

NYSE:ALG opened at $203.21 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group Inc. has a fifty-two week low of $157.07 and a fifty-two week high of $205.62. The firm has a market cap of $2.46 billion, a PE ratio of 20.46 and a beta of 1.02. The business has a 50 day moving average price of $177.56 and a 200-day moving average price of $184.37.

Alamo Group (NYSE:ALG) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.32. The company had revenue of $390.95 million during the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Equities research analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Wednesday, April 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, April 16th. Alamo Group’s dividend payout ratio (DPR) is 12.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALG. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $224.00 to $177.00 in a report on Friday, February 28th. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Baird R W lowered shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on Alamo Group in a research note on Monday, March 3rd. Finally, DA Davidson decreased their price objective on Alamo Group from $217.00 to $195.00 and set a “buy” rating on the stock in a report on Monday, April 21st.

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.