US Bancorp DE Boosts Holdings in Alamo Group, Inc. (NYSE:ALG)

US Bancorp DE increased its holdings in shares of Alamo Group, Inc. (NYSE:ALG - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,943 shares of the industrial products company's stock after purchasing an additional 1,182 shares during the period. US Bancorp DE owned approximately 0.15% of Alamo Group worth $3,198,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ALG. Nisa Investment Advisors LLC boosted its holdings in Alamo Group by 30.0% in the first quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock worth $47,000 after acquiring an additional 61 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Alamo Group by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,072 shares of the industrial products company's stock worth $199,000 after purchasing an additional 69 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Alamo Group by 80.0% in the 1st quarter. Parallel Advisors LLC now owns 162 shares of the industrial products company's stock worth $29,000 after purchasing an additional 72 shares in the last quarter. New York State Teachers Retirement System grew its position in Alamo Group by 4.1% in the 1st quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company's stock valued at $448,000 after purchasing an additional 100 shares during the period. Finally, Heritage Family Offices LLP increased its stake in Alamo Group by 8.3% during the 1st quarter. Heritage Family Offices LLP now owns 1,358 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 104 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALG shares. DA Davidson reaffirmed a "neutral" rating and issued a $225.00 price objective on shares of Alamo Group in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of Alamo Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Baird R W raised shares of Alamo Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Robert W. Baird raised shares of Alamo Group from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $209.00 to $260.00 in a research report on Monday, August 4th.

Alamo Group Stock Performance

ALG traded up $0.32 during midday trading on Friday, reaching $222.32. The company had a trading volume of 96,475 shares, compared to its average volume of 87,248. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.62 and a current ratio of 4.56. The stock has a market cap of $2.69 billion, a PE ratio of 22.64, a P/E/G ratio of 1.16 and a beta of 1.10. Alamo Group, Inc. has a 12-month low of $157.07 and a 12-month high of $230.15. The business has a 50-day moving average price of $217.66 and a two-hundred day moving average price of $194.69.

Alamo Group (NYSE:ALG - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $2.57 earnings per share for the quarter, missing analysts' consensus estimates of $2.69 by ($0.12). The company had revenue of $419.07 million during the quarter, compared to analysts' expectations of $406.75 million. Alamo Group had a net margin of 7.41% and a return on equity of 11.45%. On average, sell-side analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Wednesday, July 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, July 16th. Alamo Group's dividend payout ratio is presently 12.22%.

Insider Buying and Selling

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 directly owned 12,948 shares in the company, valued at approximately $2,613,424.32. This represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffery Allen Leonard sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $201.52, for a total transaction of $705,320.00. Following the sale, the chief executive officer owned 40,913 shares in the company, valued at $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. Corporate insiders own 1.18% of the company's stock.

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.