Alamo Group Inc. (NYSE:ALG) Position Boosted by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in Alamo Group Inc. (NYSE:ALG - Free Report) by 338.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,856 shares of the industrial products company's stock after purchasing an additional 89,430 shares during the period. Ameriprise Financial Inc. owned 0.96% of Alamo Group worth $21,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALG. Norges Bank bought a new stake in Alamo Group in the fourth quarter valued at $6,786,000. Victory Capital Management Inc. lifted its position in Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock valued at $83,421,000 after purchasing an additional 33,294 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 4.8% during 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 period. Dean Investment Associates LLC bought a new position in Alamo Group in the 4th quarter worth about $4,347,000. Finally, Tributary Capital Management LLC grew its position in Alamo Group by 16.0% in the 4th quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company's stock worth $21,674,000 after purchasing an additional 16,093 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $224.00 to $177.00 in a research note on Friday, February 28th. DA Davidson reduced their price objective on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating for the company in a report on Monday, April 21st. Baird R W cut shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Finally, StockNews.com raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the transaction, the chief executive officer now directly owns 40,913 shares in the company, valued at $8,244,787.76. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard Hodges Raborn sold 500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.84, for a total transaction of $100,920.00. Following the sale, the executive vice president now owns 12,948 shares in the company, valued at $2,613,424.32. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Alamo Group Price Performance

ALG stock traded up $0.39 during trading hours on Monday, hitting $203.58. 90,687 shares of the stock traded hands, compared to its average volume of 94,773. The stock has a 50-day simple moving average of $177.56 and a 200 day simple moving average of $184.37. The company has a market cap of $2.46 billion, a P/E ratio of 20.50 and a beta of 1.02. Alamo Group Inc. has a one year low of $157.07 and a one year high of $205.62. 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 (NYSE:ALG - Get Free Report) last released its earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million for the quarter, compared to the consensus estimate of $391.08 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. Equities analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

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

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.