Lazard Asset Management LLC Buys Shares of 266 Alamo Group Inc. (NYSE:ALG)

Lazard Asset Management LLC bought a new stake in shares of Alamo Group Inc. (NYSE:ALG – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 266 shares of the industrial products company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC boosted its position in Alamo Group by 11.8% during the 2nd quarter. Inspire Investing LLC now owns 1,825 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 192 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Alamo Group by 198.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 34,917 shares of the industrial products company’s stock valued at $4,269,000 after acquiring an additional 23,229 shares in the last quarter. Granite Investment Partners LLC boosted its position in Alamo Group by 7.5% during the 3rd quarter. Granite Investment Partners LLC now owns 169,875 shares of the industrial products company’s stock valued at $20,771,000 after acquiring an additional 11,826 shares in the last quarter. Investment Partners LTD. acquired a new stake in shares of Alamo Group in the 3rd quarter worth $1,285,000. Finally, Cornerstone Investment Partners LLC boosted its position in shares of Alamo Group by 29.8% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 4,190 shares of the industrial products company’s stock worth $512,000 after purchasing an additional 963 shares in the last quarter. Institutional investors own 91.67% of the company’s stock.

Analyst Ratings Changes

ALG has been the subject of a number of recent analyst reports. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 8th. DA Davidson raised their price objective on Alamo Group from $156.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th.

Insider Buying and Selling

In related news, VP Janet S. Pollock sold 150 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $180.40, for a total value of $27,060.00. Following the completion of the transaction, the vice president now owns 2,606 shares in the company, valued at approximately $470,122.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Alamo Group Stock Down 1.2 %

Alamo Group stock opened at $182.08 on Thursday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.82 and a quick ratio of 1.97. The business has a fifty day moving average price of $158.77 and a 200-day moving average price of $146.33. Alamo Group Inc. has a 1-year low of $108.35 and a 1-year high of $186.37.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Investors of record on Wednesday, January 18th were paid a $0.22 dividend. This is a positive change from Alamo Group’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, January 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.48%. Alamo Group’s dividend payout ratio (DPR) is 10.30%.

Alamo Group Profile

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Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.