Vaughan Nelson Investment Management L.P. increased its holdings in shares of Alamo Group Inc. (NYSE:ALG – Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 320,688 shares of the industrial products company’s stock after purchasing an additional 53,195 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 2.66% of Alamo Group worth $73,223,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ALG. Contravisory Investment Management Inc. raised its position in shares of Alamo Group by 73.4% during the first quarter. Contravisory Investment Management Inc. now owns 111 shares of the industrial products company’s stock valued at $25,000 after buying an additional 47 shares during the last quarter. Quest Partners LLC acquired a new position in Alamo Group in the 4th quarter valued at approximately $52,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Alamo Group in the 4th quarter worth approximately $208,000. FCA Corp TX acquired a new stake in shares of Alamo Group during the 4th quarter worth approximately $210,000. Finally, Raymond James & Associates bought a new stake in shares of Alamo Group during the fourth quarter valued at approximately $215,000. Institutional investors own 92.36% of the company’s stock.
Alamo Group Trading Up 0.2 %
ALG traded up $0.34 during trading on Tuesday, reaching $167.79. 2,794 shares of the company’s stock were exchanged, compared to its average volume of 71,624. The company’s fifty day moving average price is $188.03 and its 200-day moving average price is $202.38. The firm has a market capitalization of $2.02 billion, a PE ratio of 14.84 and a beta of 1.04. Alamo Group Inc. has a fifty-two week low of $157.74 and a fifty-two week high of $231.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.49 and a current ratio of 4.29.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on ALG shares. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. DA Davidson cut their price target on Alamo Group from $235.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, May 7th.
Check Out Our Latest Research Report on Alamo Group
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.
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