Principal Financial Group Inc. Raises Position in Alamo Group Inc. (NYSE:ALG)

Principal Financial Group Inc. raised its holdings in Alamo Group Inc. (NYSE:ALG) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,936 shares of the industrial products company’s stock after buying an additional 2,200 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Alamo Group worth $10,585,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its position in shares of Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 63 shares during the last quarter. Aurora Investment Counsel lifted its position in Alamo Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 85 shares during the last quarter. FORA Capital LLC lifted its position in Alamo Group by 6.7% in the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 88 shares during the last quarter. Tidal Investments LLC lifted its position in Alamo Group by 3.8% in the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 113 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Alamo Group by 700.0% in the third 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 during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Alamo Group Trading Down 5.0 %

Shares of Alamo Group stock opened at $175.02 on Friday. 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 simple moving average is $183.83 and its 200-day simple moving average is $183.94. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $228.88. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 17.63 and a beta of 1.10.

Alamo Group (NYSE:ALG) last issued its earnings results on Thursday, February 27th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $385.32 million for the quarter, compared to analyst estimates of $396.85 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio is 12.08%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALG. Robert W. Baird lowered shares of Alamo Group from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $224.00 to $177.00 in a research note on Friday. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Tuesday.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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.