Alamo Group Inc. (NYSE:ALG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Alamo Group Inc. (NYSE:ALG) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,544 shares of the industrial products company’s stock after selling 766 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Alamo Group worth $11,885,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jump Financial LLC increased its stake in Alamo Group by 31.0% during the 4th quarter. Jump Financial LLC now owns 6,442 shares of the industrial products company’s stock valued at $1,354,000 after buying an additional 1,524 shares during the period. Natixis Advisors L.P. increased its stake in Alamo Group by 7.1% during the 4th quarter. Natixis Advisors L.P. now owns 47,393 shares of the industrial products company’s stock valued at $9,961,000 after buying an additional 3,144 shares during the period. Semanteon Capital Management LP acquired a new position in Alamo Group during the 4th quarter valued at about $230,000. Yousif Capital Management LLC increased its stake in Alamo Group by 2.9% during the 4th quarter. Yousif Capital Management LLC now owns 5,267 shares of the industrial products company’s stock valued at $1,107,000 after buying an additional 147 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in Alamo Group during the 4th quarter valued at about $1,093,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson lowered their target price on shares of Alamo Group from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Alamo Group Stock Performance

NYSE:ALG opened at $192.13 on Friday. Alamo Group Inc. has a twelve month low of $157.74 and a twelve month high of $231.40. The company has a current ratio of 4.29, a quick ratio of 2.49 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $205.97 and a 200-day moving average of $203.44. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 17.09 and a beta of 1.07.

Alamo Group (NYSE:ALG) last posted its quarterly earnings data on Friday, May 3rd. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.01. Alamo Group had a net margin of 7.92% and a return on equity of 14.82%. The company had revenue of $425.59 million during the quarter. During the same quarter last year, the business posted $2.79 EPS. Analysts forecast that Alamo Group Inc. will post 12.3 earnings per share for the current fiscal year.

Alamo Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Tuesday, April 16th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, April 15th. Alamo Group’s payout ratio is 9.25%.

Alamo Group 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.