Mutual of America Capital Management LLC Sells 144 Shares of Alamo Group Inc. (NYSE:ALG)

Mutual of America Capital Management LLC cut its holdings in Alamo Group Inc. (NYSE:ALG) by 8.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,560 shares of the industrial products company’s stock after selling 144 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Alamo Group were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Alamo Group by 48.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after purchasing an additional 193,463 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alamo Group by 1,486.1% in 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 acquiring an additional 66,698 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings 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 buying an additional 52,250 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Alamo Group by 17.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after purchasing an additional 50,327 shares during the last quarter. Finally, Tributary Capital Management LLC increased its stake in shares of Alamo Group by 62.9% in the 2nd quarter. Tributary Capital Management LLC now owns 91,640 shares of the industrial products company’s stock worth $15,854,000 after acquiring an additional 35,388 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALG. DA Davidson raised their target price on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted their price objective on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction that occurred on Thursday, November 7th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Alamo Group Stock Up 0.1 %

Shares of NYSE:ALG opened at $197.89 on Friday. The firm has a 50 day simple moving average of $183.22 and a 200-day simple moving average of $181.49. 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 twelve month low of $163.74 and a twelve month high of $231.40. The company has a market capitalization of $2.39 billion, a PE ratio of 19.93 and a beta of 1.08.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were given a $0.26 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 0.53%. Alamo Group’s dividend payout ratio (DPR) is 10.47%.

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.