Franklin Resources Inc. Trims Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Franklin Resources Inc. decreased its position in Alamo Group Inc. (NYSE:ALG) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,158 shares of the industrial products company’s stock after selling 1,218 shares during the quarter. Franklin Resources Inc. owned approximately 0.80% of Alamo Group worth $17,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Alamo Group by 700.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors bought a new stake in Alamo Group in the third quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alamo Group in the second quarter worth $48,000. Quarry LP bought a new position in shares of Alamo Group during the second quarter valued at $48,000. Finally, nVerses Capital LLC purchased a new position in shares of Alamo Group in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Price Performance

NYSE ALG opened at $188.34 on Friday. Alamo Group Inc. has a one year low of $163.74 and a one year high of $231.40. The stock has a 50-day moving average of $189.39 and a 200 day moving average of $181.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 18.97 and a beta of 1.10.

Alamo Group Announces Dividend

The business also recently declared 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 is presently 10.47%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. DA Davidson raised their price objective 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. Robert W. Baird boosted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Insider Activity

In related news, VP Janet S. Pollock sold 257 shares of Alamo Group 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 completion of the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Edward Rizzuti sold 276 shares of the 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 completion of 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 position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate 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.