Alamo Group, Inc. (NYSE:ALG) Stock Holdings Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in Alamo Group, Inc. (NYSE:ALG - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 699,563 shares of the industrial products company's stock after buying an additional 26,835 shares during the period. Allspring Global Investments Holdings LLC owned approximately 5.79% of Alamo Group worth $125,732,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Alamo Group by 826.1% in the fourth quarter. Bank of America Corp DE now owns 130,494 shares of the industrial products company's stock valued at $24,260,000 after purchasing an additional 116,404 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Alamo Group during the fourth quarter worth approximately $16,971,000. Ameriprise Financial Inc. increased its stake in shares of Alamo Group by 338.4% in the fourth 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. GAMMA Investing LLC raised its holdings in Alamo Group by 37,434.5% in the first quarter. GAMMA Investing LLC now owns 42,414 shares of the industrial products company's stock valued at $7,559,000 after acquiring an additional 42,301 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Alamo Group by 279.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,068 shares of the industrial products company's stock worth $10,238,000 after acquiring an additional 40,549 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ALG. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Industrial Alliance Securities set a $217.00 target price on Alamo Group in a research report on Monday, March 3rd. Finally, DA Davidson dropped their price target on Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research report on Monday, April 21st.

Insider Activity

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction that occurred 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 owned 40,913 shares in the company, valued at approximately $8,244,787.76. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Hodges Raborn sold 500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 12,948 shares of the company's stock, valued at $2,613,424.32. This trade represents 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 corporate insiders.

Alamo Group Stock Performance

ALG traded up $3.63 on Tuesday, hitting $222.01. 159,287 shares of the company's stock were exchanged, compared to its average volume of 118,592. The company has a current ratio of 4.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $197.52 and a two-hundred day moving average of $187.21. Alamo Group, Inc. has a twelve month low of $157.07 and a twelve month high of $223.89. The firm has a market cap of $2.68 billion, a PE ratio of 23.13 and a beta of 1.07.

Alamo Group (NYSE:ALG - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $391.08 million. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. On average, research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

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.