Alamo Group Inc. (NYSE:ALG) Shares Acquired by Bank of America Corp DE

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALG. BNP Paribas Financial Markets boosted its position in shares of Alamo Group by 34.3% during the fourth quarter. BNP Paribas Financial Markets now owns 8,109 shares of the industrial products company's stock valued at $1,508,000 after buying an additional 2,069 shares during the period. Ameriprise Financial Inc. raised its stake in 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 in the last quarter. Algert Global LLC increased its position in shares of Alamo Group by 4.3% during the fourth quarter. Algert Global LLC now owns 22,491 shares of the industrial products company's stock worth $4,181,000 after purchasing an additional 930 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Alamo Group by 125.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,400 shares of the industrial products company's stock worth $1,004,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Alamo Group by 7.7% during the fourth 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. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Price Performance

Shares of ALG stock traded down $1.88 during mid-day trading on Friday, hitting $196.85. 60,573 shares of the stock were exchanged, compared to its average volume of 95,141. The firm has a fifty day moving average of $178.99 and a 200 day moving average of $184.80. 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 52-week low of $157.07 and a 52-week high of $205.62. The company has a market cap of $2.38 billion, a PE ratio of 19.82 and a beta of 1.02.

Alamo Group (NYSE:ALG - Get Free Report) last posted its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The business had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Research analysts anticipate that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

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

Insider Activity at Alamo Group

In other news, 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 owns 12,948 shares of the company's stock, valued at $2,613,424.32. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company's stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALG has been the topic of several recent research reports. Robert W. Baird lowered shares of Alamo Group from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $224.00 to $177.00 in a report on Friday, February 28th. Wall Street Zen raised shares of Alamo Group from a "hold" rating to a "buy" rating in a report on Thursday. 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 price target on shares of Alamo Group in a report on Monday, March 3rd. Finally, Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th.

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.