Allspring Global Investments Holdings LLC Acquires 26,835 Shares of Alamo Group, Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC boosted its stake in Alamo Group, Inc. (NYSE:ALG - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,563 shares of the industrial products company's stock after purchasing an additional 26,835 shares during the quarter. Allspring Global Investments Holdings LLC owned about 5.79% of Alamo Group worth $125,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GHP Investment Advisors Inc. raised its stake in Alamo Group by 8.2% in the first quarter. GHP Investment Advisors Inc. now owns 12,063 shares of the industrial products company's stock valued at $2,150,000 after purchasing an additional 911 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in Alamo Group by 3.1% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,371 shares of the industrial products company's stock valued at $957,000 after purchasing an additional 161 shares in the last quarter. GAMMA Investing LLC raised its stake in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Alamo Group by 2.6% in the first quarter. Harbor Capital Advisors Inc. now owns 47,945 shares of the industrial products company's stock valued at $8,544,000 after purchasing an additional 1,210 shares in the last quarter. Finally, Vest Financial LLC purchased a new stake in Alamo Group in the first quarter valued at approximately $2,427,000. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Price Performance

Shares of ALG stock traded down $2.50 during trading hours on Friday, hitting $216.95. 323,553 shares of the company's stock were exchanged, compared to its average volume of 100,914. The company has a market capitalization of $2.62 billion, a PE ratio of 22.60 and a beta of 1.07. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $220.00. The business's 50 day simple moving average is $196.37 and its 200-day simple moving average is $187.08. The company has a current ratio of 4.30, a quick ratio of 2.62 and a debt-to-equity ratio of 0.19.

Alamo Group (NYSE:ALG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.33 by $0.32. The firm 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 7.25% and a return on equity of 11.56%. On average, equities research analysts anticipate that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, April 16th. Alamo Group's dividend payout ratio (DPR) is presently 12.50%.

Insiders Place Their Bets

In related news, CEO Jeffery Allen Leonard sold 3,500 shares of Alamo Group 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 transaction, the chief executive officer now directly owns 40,913 shares of the company's stock, valued at $8,244,787.76. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Hodges Raborn sold 500 shares of Alamo Group stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.84, for a total transaction of $100,920.00. Following the completion of the transaction, 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. Insiders own 1.18% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. DA Davidson decreased their price target on shares of Alamo Group from $217.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, Industrial Alliance Securities set a $217.00 price target on shares of Alamo Group in a research note on Monday, March 3rd.

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.