Alamo Group Inc. (NYSE:ALG) Shares Purchased by Ameriprise Financial Inc.

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

A number of other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Alamo Group by 442.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 168 shares during the last quarter. KBC Group NV lifted its stake in shares of Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company's stock worth $97,000 after acquiring an additional 189 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Alamo Group by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock valued at $199,000 after acquiring an additional 69 shares during the period. Raymond James Financial Inc. bought a new position in Alamo Group in the 4th quarter valued at $200,000. Finally, Choreo LLC purchased a new stake in shares of Alamo Group during the fourth quarter valued at $201,000. Institutional investors own 92.36% of the company's stock.

Alamo Group Stock Performance

Shares of Alamo Group stock traded down $3.33 during midday trading on Wednesday, hitting $200.13. The company had a trading volume of 3,247 shares, compared to its average volume of 94,726. The company has a fifty day simple moving average of $178.37 and a 200 day simple moving average of $184.61. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 20.23 and a beta of 1.02. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12-month low of $157.07 and a 12-month high of $205.62.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. The business had revenue of $390.95 million for 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%. As a group, analysts predict 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 was paid on Tuesday, April 29th. Investors of record on Wednesday, April 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, April 16th. Alamo Group's payout ratio is 12.50%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Jeffery Allen Leonard sold 3,500 shares of the 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 12,948 shares in the company, valued at approximately $2,613,424.32. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Alamo Group 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.