Allspring Global Investments Holdings LLC Sells 5,734 Shares of Alamo Group, Inc. $ALG

Allspring Global Investments Holdings LLC trimmed its position in shares of Alamo Group, Inc. (NYSE:ALG) by 0.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 660,593 shares of the industrial products company’s stock after selling 5,734 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Alamo Group worth $112,301,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Natixis Advisors LLC lifted its holdings in Alamo Group by 0.4% in the 3rd quarter. Natixis Advisors LLC now owns 15,926 shares of the industrial products company’s stock worth $3,040,000 after buying an additional 61 shares during the period. State of Alaska Department of Revenue raised its stake in Alamo Group by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 6,250 shares of the industrial products company’s stock worth $1,048,000 after buying an additional 106 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alamo Group by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,970 shares of the industrial products company’s stock worth $4,192,000 after buying an additional 117 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Alamo Group by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 8,744 shares of the industrial products company’s stock valued at $1,472,000 after acquiring an additional 130 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Alamo Group by 7.5% during the 4th quarter. Advisors Asset Management Inc. now owns 1,935 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 135 shares during the period. 92.36% of the stock is owned by institutional investors.

Alamo Group Price Performance

Shares of ALG opened at $162.53 on Friday. Alamo Group, Inc. has a twelve month low of $145.76 and a twelve month high of $233.29. The company has a market capitalization of $1.98 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. The firm has a 50 day moving average of $157.44 and a 200 day moving average of $174.20. The company has a quick ratio of 2.45, a current ratio of 4.32 and a debt-to-equity ratio of 0.23.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.36. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%.The business had revenue of $417.15 million for the quarter, compared to analysts’ expectations of $398.02 million. As a group, equities research analysts anticipate that Alamo Group, Inc. will post 10.65 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Thursday, July 16th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $1.36 annualized dividend and a dividend yield of 0.8%. Alamo Group’s dividend payout ratio (DPR) is 16.27%.

Analysts Set New Price Targets

ALG has been the subject of a number of research analyst reports. DA Davidson restated a “neutral” rating and issued a $188.00 target price on shares of Alamo Group in a research note on Wednesday, July 1st. Weiss Ratings downgraded Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Alamo Group presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Alamo Group Profile

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.