Alamo Group, Inc. (NYSE:ALG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Alamo Group, Inc. (NYSE:ALG - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 506,815 shares of the industrial products company's stock after purchasing an additional 58,097 shares during the quarter. Victory Capital Management Inc. owned about 4.19% of Alamo Group worth $90,320,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CWM LLC grew its holdings in Alamo Group by 520.9% during the 1st quarter. CWM LLC now owns 981 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 823 shares during the last quarter. Ballentine Partners LLC bought a new position in Alamo Group during the 1st quarter valued at about $210,000. Nisa Investment Advisors LLC grew its holdings in Alamo Group by 30.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 264 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 61 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Alamo Group by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 58,673 shares of the industrial products company's stock valued at $10,456,000 after purchasing an additional 1,737 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Alamo Group by 4.1% during 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 last quarter. Hedge funds and other institutional investors own 92.36% of the company's stock.

Alamo Group Stock Down 0.5%

Shares of ALG traded down $1.12 during mid-day trading on Friday, hitting $216.85. The company's stock had a trading volume of 57,474 shares, compared to its average volume of 102,230. The company's 50-day moving average is $211.84 and its 200-day moving average is $190.44. Alamo Group, Inc. has a 52-week low of $157.07 and a 52-week high of $230.16. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 22.59 and a beta of 1.08. 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 (NYSE:ALG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.32. Alamo Group had a net margin of 7.25% and a return on equity of 11.56%. The firm had revenue of $390.95 million during the quarter, compared to analysts' expectations of $391.08 million. On average, equities research analysts forecast that Alamo Group, Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Wednesday, July 16th will be issued a $0.30 dividend. 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 is currently 12.50%.

Analyst Ratings Changes

A number of equities analysts have commented on ALG shares. 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 Saturday, June 14th.

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 shares were sold at an average price of $201.52, for a total value of $705,320.00. Following the completion of the transaction, the chief executive officer owned 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 transaction was disclosed in a filing 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 transaction of $100,920.00. Following the completion of the transaction, the executive vice president directly owned 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 disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

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.