Principal Financial Group Inc. Decreases Holdings in Alamo Group Inc. (NYSE:ALG)

Principal Financial Group Inc. lowered its position in Alamo Group Inc. (NYSE:ALG) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,736 shares of the industrial products company’s stock after selling 427 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Alamo Group worth $9,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares during the period. JNBA Financial Advisors purchased a new position in Alamo Group during the 3rd quarter valued at $37,000. First Horizon Advisors Inc. raised its holdings in Alamo Group by 174.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alamo Group in the 2nd quarter worth about $48,000. Finally, Quarry LP bought a new stake in shares of Alamo Group during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Down 0.4 %

Shares of ALG stock opened at $193.49 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The stock has a market cap of $2.33 billion, a P/E ratio of 19.57 and a beta of 1.08. The company has a 50 day simple moving average of $179.79 and a two-hundred day simple moving average of $181.23.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Alamo Group’s dividend payout ratio is presently 10.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price objective on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. DA Davidson lifted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Insider Activity at Alamo Group

In related news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Rizzuti sold 276 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

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.