Alamo Group, Inc. (NYSE:ALG) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,673 shares of the industrial products company's stock after acquiring an additional 1,737 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Alamo Group worth $10,456,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALG. Charles Schwab Investment Management Inc. increased its holdings in shares of Alamo Group by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 141,045 shares of the industrial products company's stock valued at $26,222,000 after acquiring an additional 6,666 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alamo Group in the 4th quarter worth approximately $200,000. Amundi increased its holdings in Alamo Group by 186.9% in the 4th quarter. Amundi now owns 5,238 shares of the industrial products company's stock worth $923,000 after buying an additional 3,412 shares during the period. Swiss National Bank increased its holdings in Alamo Group by 0.5% in the 4th quarter. Swiss National Bank now owns 20,100 shares of the industrial products company's stock worth $3,737,000 after buying an additional 100 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in Alamo Group in the 4th quarter worth approximately $1,398,000. Institutional investors and hedge funds own 92.36% of the company's stock.

Insiders Place Their Bets

In other Alamo Group news, CEO Jeffery Allen Leonard sold 3,500 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $201.52, for a total value of $705,320.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard Hodges Raborn sold 500 shares of the firm's stock in a transaction 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 sale, 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. Company insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson cut 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. Wall Street Zen upgraded shares of Alamo Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th.

Alamo Group Stock Performance

Alamo Group stock traded down $2.77 during mid-day trading on Wednesday, hitting $216.82. The company had a trading volume of 66,752 shares, compared to its average volume of 102,372. 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, Inc. has a 12-month low of $157.07 and a 12-month high of $230.16. The company's fifty day moving average is $209.63 and its 200-day moving average is $189.81. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 22.58 and a beta of 1.08.

Alamo Group (NYSE:ALG - Get Free Report) last announced its earnings results 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. Alamo Group had a return on equity of 11.56% and a net margin of 7.25%. The firm had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. Equities research analysts predict that Alamo Group, Inc. will post 9.53 EPS for the current year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Wednesday, July 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group's dividend payout ratio (DPR) is 12.50%.

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.