Bank of America Corp DE Acquires 116,404 Shares of Alamo Group Inc. (NYSE:ALG)

Bank of America Corp DE grew its position in Alamo Group Inc. (NYSE:ALG - Free Report) by 826.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,494 shares of the industrial products company's stock after buying an additional 116,404 shares during the period. Bank of America Corp DE owned approximately 1.08% of Alamo Group worth $24,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ALG. Vanguard Group Inc. boosted its stake in shares of Alamo Group by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 721,154 shares of the industrial products company's stock worth $134,070,000 after buying an additional 2,361 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Alamo Group by 4.8% in 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 acquiring an additional 30,826 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Alamo Group by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock worth $83,421,000 after purchasing an additional 33,294 shares during the period. Northern Trust Corp grew its holdings in shares of Alamo Group by 7.7% during the 4th quarter. Northern Trust Corp now owns 167,285 shares of the industrial products company's stock worth $31,100,000 after purchasing an additional 11,930 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alamo Group by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock worth $26,222,000 after purchasing an additional 6,666 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALG shares. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Thursday. Robert W. Baird cut shares of Alamo Group from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $224.00 to $177.00 in a research note on Friday, February 28th. Baird R W downgraded Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a report on Monday, March 3rd. Finally, DA Davidson lowered their target price 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.

Insider Buying and Selling at Alamo Group

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

Alamo Group Stock Down 0.5%

NYSE:ALG traded down $1.02 on Friday, hitting $197.70. The stock had a trading volume of 11,474 shares, compared to its average volume of 94,772. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The stock has a market cap of $2.39 billion, a P/E ratio of 19.90 and a beta of 1.02. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62. The firm's fifty day simple moving average is $178.84 and its two-hundred day simple moving average is $184.81.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.32. The firm had revenue of $390.95 million during 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%. Analysts predict that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.61%. Alamo Group's payout ratio is presently 12.50%.

Alamo Group Company 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.