Inspire Investing LLC Increases Stock Position in Alamo Group Inc. (NYSE:ALG)

Inspire Investing LLC lifted its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,360 shares of the industrial products company’s stock after buying an additional 435 shares during the period. Inspire Investing LLC’s holdings in Alamo Group were worth $996,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Wellington Management Group LLP purchased a new position in Alamo Group in the third quarter worth $35,759,000. Assenagon Asset Management S.A. grew its stake in shares of Alamo Group by 1,486.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after purchasing an additional 66,698 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group by 7.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 7.4% in the third quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after purchasing an additional 28,786 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Alamo Group by 152.5% during the third quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock worth $8,367,000 after buying an additional 28,054 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALG shares. Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a research note on Wednesday.

Alamo Group Price Performance

Shares of NYSE ALG opened at $184.13 on Friday. 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 company’s 50-day moving average price is $189.61 and its 200 day moving average price is $182.87. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 18.54 and a beta of 1.11.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. Alamo Group’s dividend payout ratio is currently 12.08%.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction 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 sale, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 3,360 shares of the company’s stock, valued at $649,857.60. The trade was a 7.11 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.