Alamo Group, Inc. $ALG Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Alamo Group, Inc. (NYSE:ALG) by 9.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 666,327 shares of the industrial products company’s stock after purchasing an additional 57,456 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Alamo Group worth $113,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of Alamo Group by 3,140.0% during the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 314 shares in the last quarter. MAI Capital Management purchased a new stake in Alamo Group during the third quarter worth about $73,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Alamo Group during the second quarter worth about $87,000. Globeflex Capital L P acquired a new position in Alamo Group during the second quarter worth about $100,000. Finally, Tower Research Capital LLC TRC grew its position in Alamo Group by 152.4% during the second quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALG. Weiss Ratings reiterated a “hold (c)” rating on shares of Alamo Group in a research report on Friday. William Blair initiated coverage on Alamo Group in a report on Monday, March 16th. They issued an “outperform” rating on the stock. CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. DA Davidson reiterated a “neutral” rating and issued a $190.00 price target on shares of Alamo Group in a research report on Monday, March 9th. Finally, Zacks Research cut shares of Alamo Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Alamo Group presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Insiders Place Their Bets

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of Alamo Group stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $175.19, for a total value of $87,419.81. Following the transaction, the director owned 2,844 shares in the company, valued at $498,240.36. This trade represents a 14.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Rizzuti sold 600 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $170.93, for a total value of $102,558.00. Following the sale, the executive vice president owned 10,857 shares of the company’s stock, valued at approximately $1,855,787.01. The trade was a 5.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.06% of the stock is currently owned by insiders.

Alamo Group Stock Up 0.3%

Shares of NYSE:ALG opened at $164.78 on Wednesday. The company has a current ratio of 4.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 0.99 and a beta of 1.10. The stock’s 50-day moving average price is $189.77 and its two-hundred day moving average price is $182.60. Alamo Group, Inc. has a 12-month low of $156.29 and a 12-month high of $233.29.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.36). The company had revenue of $373.65 million for the quarter, compared to analyst estimates of $405.18 million. Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. On average, research analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Investors of record on Friday, January 16th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.8%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s dividend payout ratio (DPR) is currently 15.83%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.