Assenagon Asset Management S.A. Sells 41,656 Shares of Alamo Group Inc. (NYSE:ALG)

Assenagon Asset Management S.A. reduced its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 58.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,530 shares of the industrial products company’s stock after selling 41,656 shares during the period. Assenagon Asset Management S.A. owned about 0.24% of Alamo Group worth $5,490,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of Alamo Group during the 3rd quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group in the second quarter valued at about $48,000. Quarry LP acquired a new position in Alamo Group in the second quarter valued at about $48,000. Finally, Huntington National Bank boosted its position in Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after buying an additional 63 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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 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 $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 trade represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Alamo Group Price Performance

NYSE:ALG opened at $182.46 on Tuesday. The firm has a market cap of $2.20 billion, a PE ratio of 18.38 and a beta of 1.11. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $189.98 and its two-hundred day moving average price is $182.72.

Alamo Group Increases Dividend

The business also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 16th. Alamo Group’s dividend payout ratio is presently 10.47%.

Wall Street Analyst Weigh In

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

Alamo Group Company 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.