Intech Investment Management LLC Invests $484,000 in Alamo Group Inc. (NYSE:ALG)

Intech Investment Management LLC bought a new stake in Alamo Group Inc. (NYSE:ALG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,687 shares of the industrial products company’s stock, valued at approximately $484,000.

A number of other hedge funds have also made changes to their positions in ALG. Allspring Global Investments Holdings LLC lifted its stake in Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after purchasing an additional 45,422 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after purchasing an additional 28,786 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Alamo Group by 16.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after acquiring an additional 52,250 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Alamo Group by 17.1% during the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after buying an additional 50,327 shares during the period. Finally, Tributary Capital Management LLC increased its holdings in shares of Alamo Group by 9.7% in the third quarter. Tributary Capital Management LLC now owns 100,491 shares of the industrial products company’s stock valued at $18,101,000 after purchasing an additional 8,851 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Price Performance

Alamo Group stock opened at $199.95 on Monday. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $231.40. The firm has a 50 day moving average price of $183.60 and a 200 day moving average price of $181.26. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 20.14 and a beta of 1.08. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.52%. Alamo Group’s dividend payout ratio is currently 10.47%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

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.