Alamo Group Inc. (NYSE:ALG) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Alamo Group Inc. (NYSE:ALG) by 14.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 76,555 shares of the industrial products company’s stock after buying an additional 9,710 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of Alamo Group worth $13,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Alamo Group during the 3rd quarter valued at about $35,759,000. Assenagon Asset Management S.A. boosted its position in shares of Alamo Group by 1,486.1% during the third quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after buying an additional 66,698 shares during the period. Westwood Holdings Group Inc. grew its holdings in Alamo Group by 17.1% in the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Alamo Group by 7.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in 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 acquiring an additional 28,786 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Alamo Group Price Performance

NYSE ALG opened at $172.96 on Friday. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The firm has a market capitalization of $2.09 billion, a PE ratio of 17.42 and a beta of 1.11. The company’s 50 day simple moving average is $191.49 and its 200 day simple moving average is $182.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. Alamo Group’s dividend payout ratio (DPR) is 12.08%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird increased their price target on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the sale, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. The trade was a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Janet S. Pollock sold 257 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.40% 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.