Rhumbline Advisers Grows Stake in Alamo Group Inc. (NYSE:ALG)

Rhumbline Advisers grew its stake in shares of Alamo Group Inc. (NYSE:ALG) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,166 shares of the industrial products company’s stock after purchasing an additional 801 shares during the quarter. Rhumbline Advisers owned 0.28% of Alamo Group worth $6,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ALG. Nisa Investment Advisors LLC lifted its position in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new stake in shares of Alamo Group during the third quarter valued at approximately $37,000. KBC Group NV lifted its position in shares of Alamo Group by 57.1% during the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares in the last quarter. Huntington National Bank boosted its stake in shares of 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 purchasing an additional 63 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Alamo Group by 192.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 534 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Transactions at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The stock was 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 owns 3,360 shares in the company, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lifted their target price on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th.

Alamo Group Stock Performance

Alamo Group stock opened at $185.18 on Thursday. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $228.88. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.23 billion, a P/E ratio of 18.65 and a beta of 1.10. The stock has a 50 day moving average of $184.30 and a 200-day moving average of $183.91.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.30 per share. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, January 16th. Alamo Group’s dividend payout ratio (DPR) is currently 12.08%.

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.