Shell Asset Management Co. cut its holdings in Alamo Group Inc. (NYSE:ALG – Get Rating) by 12.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,006 shares of the industrial products company’s stock after selling 743 shares during the period. Shell Asset Management Co.’s holdings in Alamo Group were worth $720,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Planning LLC acquired a new position in Alamo Group in the 1st quarter valued at $65,000. Pinebridge Investments L.P. acquired a new stake in shares of Alamo Group during the 4th quarter worth $88,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Alamo Group during the 4th quarter worth $200,000. Inspire Investing LLC acquired a new stake in shares of Alamo Group during the 1st quarter worth $235,000. Finally, Truist Financial Corp increased its holdings in shares of Alamo Group by 25.6% during the 1st quarter. Truist Financial Corp now owns 2,309 shares of the industrial products company’s stock worth $332,000 after buying an additional 470 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.
Alamo Group Stock Up 2.7 %
Shares of Alamo Group stock opened at $129.41 on Monday. The company has a fifty day moving average price of $117.21 and a 200 day moving average price of $130.16. The company has a current ratio of 3.77, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. Alamo Group Inc. has a twelve month low of $108.35 and a twelve month high of $160.71. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 18.95 and a beta of 0.98.
Alamo Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 18th will be given a $0.18 dividend. The ex-dividend date is Friday, July 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.56%. Alamo Group’s payout ratio is currently 10.54%.
Insider Buying and Selling at Alamo Group
In other news, Director Robert P. Bauer acquired 500 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was bought at an average cost of $113.99 per share, with a total value of $56,995.00. Following the transaction, the director now directly owns 7,561 shares in the company, valued at approximately $861,878.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have recently commented on ALG shares. TheStreet downgraded Alamo Group from a “b-” rating to a “c+” rating in a report on Thursday, May 19th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th.
About Alamo Group
Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
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