Northern Trust Corp Buys 11,930 Shares of Alamo Group Inc. (NYSE:ALG)

Northern Trust Corp lifted its stake in Alamo Group Inc. (NYSE:ALG - Free Report) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,285 shares of the industrial products company's stock after acquiring an additional 11,930 shares during the quarter. Northern Trust Corp owned approximately 1.39% of Alamo Group worth $31,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Alamo Group during the fourth quarter valued at about $6,786,000. Victory Capital Management Inc. increased its holdings in shares of Alamo Group by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company's stock worth $83,421,000 after buying an additional 33,294 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Alamo Group by 4.8% during the fourth 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 last quarter. Dean Investment Associates LLC bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $4,347,000. Finally, Tributary Capital Management LLC grew its stake in shares of Alamo Group by 16.0% during the fourth quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company's stock valued at $21,674,000 after purchasing an additional 16,093 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALG shares. StockNews.com raised shares of Alamo Group from a "hold" rating to a "buy" rating in a research note on Monday. Industrial Alliance Securities set a $217.00 price objective on shares of Alamo Group in a report on Monday, March 3rd. 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 research note on Friday, February 28th. 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 research note on Monday, April 21st. Finally, Baird R W lowered shares of Alamo Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th.

Alamo Group Stock Performance

Shares of ALG stock traded up $2.68 during midday trading on Friday, hitting $204.70. 18,594 shares of the company were exchanged, compared to its average volume of 94,127. Alamo Group Inc. has a 52 week low of $157.07 and a 52 week high of $205.62. The firm has a market capitalization of $2.47 billion, a P/E ratio of 20.61 and a beta of 1.02. The firm's 50 day moving average price is $177.22 and its two-hundred day moving average price is $183.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Alamo Group (NYSE:ALG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The industrial products company reported $2.65 EPS for the quarter, beating 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 business had revenue of $390.95 million for the quarter, compared to analyst estimates of $391.08 million. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Wednesday, April 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, April 16th. Alamo Group's dividend payout ratio is currently 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.