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

Principal Financial Group Inc. trimmed its stake in shares of Alamo Group Inc. (NYSE:ALG) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,736 shares of the industrial products company’s stock after selling 427 shares during the period. Principal Financial Group Inc. owned 0.45% of Alamo Group worth $9,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in shares of Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors bought a new position in Alamo Group during the third quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Alamo Group during the 2nd quarter valued at approximately $48,000. Quarry LP bought a new stake in Alamo Group in the 2nd quarter worth approximately $48,000. Finally, nVerses Capital LLC purchased a new stake in shares of Alamo Group during the 2nd quarter worth approximately $52,000. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Performance

ALG opened at $185.40 on Tuesday. The stock has a 50-day moving average of $190.40 and a 200 day moving average of $181.98. 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 12 month low of $163.74 and a 12 month high of $231.40. The firm has a market cap of $2.24 billion, a P/E ratio of 18.67 and a beta of 1.10.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 10.47%.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target 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.

Insider Activity at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction on 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 in the company, valued at $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 currently owned by insiders.

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.