BNP Paribas Financial Markets Raises Stock Holdings in Alamo Group Inc. (NYSE:ALG)

BNP Paribas Financial Markets grew its position in Alamo Group Inc. (NYSE:ALG - Free Report) by 34.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,109 shares of the industrial products company's stock after purchasing an additional 2,069 shares during the period. BNP Paribas Financial Markets owned about 0.07% of Alamo Group worth $1,508,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ALG. Ameriprise Financial Inc. increased its stake in Alamo Group by 338.4% in the 4th quarter. Ameriprise Financial Inc. now owns 115,856 shares of the industrial products company's stock valued at $21,539,000 after buying an additional 89,430 shares during the last quarter. Norges Bank bought a new stake in Alamo Group during the fourth quarter worth $6,786,000. Victory Capital Management Inc. boosted its position in Alamo Group by 8.0% in 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 last quarter. Allspring Global Investments Holdings LLC grew its stake 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 purchasing an additional 30,826 shares during the period. Finally, Dean Investment Associates LLC bought a new position in Alamo Group in the 4th quarter valued at $4,347,000. 92.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Richard Hodges Raborn sold 500 shares of the company'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 transaction of $100,920.00. Following the sale, the executive vice president now owns 12,948 shares of the company's stock, valued at approximately $2,613,424.32. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were 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. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Alamo Group Stock Performance

ALG traded down $1.06 during trading hours on Thursday, hitting $198.26. The stock had a trading volume of 49,959 shares, compared to its average volume of 94,945. Alamo Group Inc. has a 1 year low of $157.07 and a 1 year high of $205.62. The company's fifty day simple moving average is $178.64 and its 200 day simple moving average is $184.71. The stock has a market cap of $2.40 billion, a PE ratio of 19.97 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 (NYSE:ALG - Get Free Report) last issued its earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.32. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The firm had revenue of $390.95 million during the quarter, compared to analyst estimates of $391.08 million. Equities 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 announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, April 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.61%. Alamo Group's payout ratio is 12.50%.

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.