Allspring Global Investments Holdings LLC Boosts Stake in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 42.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 399,190 shares of the industrial products company’s stock after acquiring an additional 119,636 shares during the period. Allspring Global Investments Holdings LLC owned about 3.32% of Alamo Group worth $83,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. increased its holdings in Alamo Group by 1.7% during the 2nd quarter. BlackRock Inc. now owns 1,688,017 shares of the industrial products company’s stock worth $310,443,000 after purchasing an additional 27,420 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alamo Group by 4.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 864,063 shares of the industrial products company’s stock worth $100,603,000 after buying an additional 36,290 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Alamo Group by 0.6% in the third quarter. Vanguard Group Inc. now owns 752,578 shares of the industrial products company’s stock worth $130,091,000 after buying an additional 4,492 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Alamo Group by 2.8% in the fourth quarter. Victory Capital Management Inc. now owns 685,079 shares of the industrial products company’s stock valued at $97,007,000 after acquiring an additional 18,713 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Alamo Group by 8.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 678,420 shares of the industrial products company’s stock valued at $96,065,000 after acquiring an additional 53,730 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALG. StockNews.com raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. DA Davidson boosted their price objective on Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, February 27th.

Alamo Group Stock Up 1.1 %

ALG stock opened at $222.78 on Wednesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 19.61 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 fifty day moving average price of $212.43 and a two-hundred day moving average price of $196.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99.

Alamo Group (NYSE:ALG) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The business had revenue of $417.54 million for the quarter. Research analysts predict that Alamo Group Inc. will post 13.17 EPS for the current year.

Alamo Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, April 15th. Alamo Group’s payout ratio is 9.15%.

Insiders Place Their Bets

In other news, EVP Michael A. Haberman sold 418 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $223.87, for a total transaction of $93,577.66. Following the completion of the transaction, the executive vice president now owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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.