Truist Financial Corp Purchases 470 Shares of Alamo Group Inc. (NYSE:ALG)

Truist Financial Corp lifted its position in shares of Alamo Group Inc. (NYSE:ALG – Get Rating) by 25.6% during the first quarter, Holdings Channel.com reports. The firm owned 2,309 shares of the industrial products company’s stock after buying an additional 470 shares during the quarter. Truist Financial Corp’s holdings in Alamo Group were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Inspire Investing LLC bought a new position in shares of Alamo Group during the first quarter worth approximately $235,000. Maryland State Retirement & Pension System increased its stake in Alamo Group by 1.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 4,003 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 76 shares during the period. Westwood Holdings Group Inc. increased its stake in Alamo Group by 41.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 236,617 shares of the industrial products company’s stock worth $34,826,000 after acquiring an additional 69,054 shares during the period. SG Capital Management LLC bought a new position in Alamo Group during the 4th quarter worth $1,101,000. Finally, Rice Hall James & Associates LLC increased its stake in Alamo Group by 43.5% during the 4th quarter. Rice Hall James & Associates LLC now owns 20,658 shares of the industrial products company’s stock worth $3,040,000 after acquiring an additional 6,259 shares during the period. Institutional investors own 91.33% of the company’s stock.

Alamo Group Trading Up 2.0 %

Shares of ALG opened at $126.05 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.98 and a current ratio of 3.77. Alamo Group Inc. has a 52-week low of $108.35 and a 52-week high of $160.71. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 18.46 and a beta of 0.98. The business’s fifty day moving average is $116.85 and its 200-day moving average is $130.71.

Alamo Group (NYSE:ALG – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.06). Alamo Group had a return on equity of 11.59% and a net margin of 5.87%. The business had revenue of $362.01 million for the quarter. During the same period in the prior year, the company posted $1.47 EPS. Equities analysts anticipate that Alamo Group Inc. will post 8.13 EPS for the current fiscal year.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Monday, July 18th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, July 15th. This represents a $0.72 annualized dividend and a dividend yield of 0.57%. Alamo Group’s dividend payout ratio is currently 10.54%.

Insider Buying and Selling

In other Alamo Group news, Director Robert P. Bauer acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was acquired at an average cost of $113.99 per share, for a total transaction of $56,995.00. Following the transaction, the director now directly owns 7,561 shares in the company, valued at $861,878.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALG shares. TheStreet lowered Alamo Group from a “b-” rating to a “c+” rating in a research note on Thursday, May 19th. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.

Alamo Group Company Profile

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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.