Harbor Capital Advisors Inc. Has $8.37 Million Stock Position in Alamo Group Inc. (NYSE:ALG)

Harbor Capital Advisors Inc. lifted its position in shares of Alamo Group Inc. (NYSE:ALG) by 152.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,449 shares of the industrial products company’s stock after purchasing an additional 28,054 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.39% of Alamo Group worth $8,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Alamo Group by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after acquiring an additional 33,190 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Alamo Group by 16.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after acquiring an additional 52,250 shares during the period. Westwood Holdings Group Inc. raised its position in Alamo Group by 17.1% in the second 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 in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after purchasing an additional 51,292 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Insider Activity at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at approximately $2,005,138.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Edward Rizzuti sold 322 shares of Alamo Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the completion of the sale, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $187.48 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 17.75 and a beta of 1.06. The firm’s 50-day moving average price is $177.21 and its two-hundred day moving average price is $181.93. The company has a current ratio of 4.37, a quick ratio of 2.52 and a debt-to-equity ratio of 0.28. Alamo Group Inc. has a 1-year low of $158.16 and a 1-year high of $231.40.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.44). The business had revenue of $416.30 million for the quarter. Alamo Group had a net margin of 7.56% and a return on equity of 13.51%. During the same period last year, the company earned $3.03 earnings per share. On average, equities analysts predict that Alamo Group Inc. will post 10.23 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group’s dividend payout ratio (DPR) is presently 9.85%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALG. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird lowered their price target on Alamo Group from $223.00 to $217.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

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.