Geode Capital Management LLC Buys 670 Shares of Alamo Group Inc. (NYSE:ALG)

Geode Capital Management LLC lifted its stake in Alamo Group Inc. (NYSE:ALG) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 232,198 shares of the industrial products company’s stock after acquiring an additional 670 shares during the period. Geode Capital Management LLC owned 1.93% of Alamo Group worth $41,834,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position in shares of Alamo Group by 2.1% in the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 63 shares during the period. Huntington National Bank raised its stake in Alamo Group by 10.4% during the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 63 shares in the last quarter. Aurora Investment Counsel increased its position in shares of Alamo Group by 1.5% during the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 85 shares in the last quarter. FORA Capital LLC raised its stake in shares of 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. Finally, Louisiana State Employees Retirement System boosted its stake in Alamo Group by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

Shares of NYSE ALG opened at $188.26 on Wednesday. The firm has a market cap of $2.27 billion, a PE ratio of 18.96 and a beta of 1.10. The company has a fifty day moving average price of $189.54 and a 200 day moving average price of $181.78. 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 1-year low of $163.74 and a 1-year high of $231.40.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid 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 0.55%. Alamo Group’s payout ratio is currently 10.47%.

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Janet S. Pollock sold 257 shares of the business’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALG. Robert W. Baird upped their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DA Davidson raised their target price 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.

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.