Allspring Global Investments Holdings LLC Increases Position in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC raised its position in shares of Alamo Group Inc. (NYSE:ALG) by 48.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 596,480 shares of the industrial products company’s stock after purchasing an additional 193,463 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alamo Group were worth $103,191,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ALG. Tributary Capital Management LLC lifted its holdings in shares of Alamo Group by 62.9% in the 2nd quarter. Tributary Capital Management LLC now owns 91,640 shares of the industrial products company’s stock worth $15,854,000 after acquiring an additional 35,388 shares during the last quarter. Argent Capital Management LLC lifted its stake in Alamo Group by 61.3% in the second quarter. Argent Capital Management LLC now owns 1,915 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 728 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Alamo Group by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after buying an additional 100 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of 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 worth $64,518,000 after buying an additional 52,250 shares during the period. Institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In other news, EVP Edward Rizzuti sold 322 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $1,384,421.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird dropped their price objective on Alamo Group from $223.00 to $217.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson decreased their target price on shares of Alamo Group from $225.00 to $209.00 and set a “buy” rating on the stock in a research note on Monday, August 5th.

Alamo Group Stock Performance

Alamo Group stock opened at $185.30 on Tuesday. The company has a current ratio of 4.37, a quick ratio of 2.49 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.23 billion, a P/E ratio of 16.49 and a beta of 1.04. Alamo Group Inc. has a 1-year low of $157.74 and a 1-year high of $231.40. The firm has a 50-day moving average of $177.04 and a 200-day moving average of $193.90.

Alamo Group (NYSE:ALG) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.35 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.44). Alamo Group had a return on equity of 13.51% and a net margin of 7.56%. The business had revenue of $416.30 million during the quarter. During the same period in the prior year, the business posted $3.03 EPS. Sell-side analysts expect that Alamo Group Inc. will post 12.3 EPS for the current year.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Tuesday, July 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date was Tuesday, July 16th. Alamo Group’s dividend payout ratio (DPR) is currently 9.25%.

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.