Rhumbline Advisers Sells 2,620 Shares of Alamo Group, Inc. $ALG

Rhumbline Advisers cut its position in Alamo Group, Inc. (NYSE:ALG) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,422 shares of the industrial products company’s stock after selling 2,620 shares during the period. Rhumbline Advisers owned 0.26% of Alamo Group worth $5,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alamo Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,084 shares of the industrial products company’s stock valued at $1,084,000 after acquiring an additional 251 shares during the period. Millennium Management LLC lifted its holdings in shares of Alamo Group by 164.7% in the 1st quarter. Millennium Management LLC now owns 63,588 shares of the industrial products company’s stock worth $11,332,000 after purchasing an additional 39,564 shares in the last quarter. Jones Financial Companies Lllp grew its position in Alamo Group by 3,140.0% in the 1st quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 314 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alamo Group by 12.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,162 shares of the industrial products company’s stock valued at $6,444,000 after purchasing an additional 4,062 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Alamo Group during the 2nd quarter valued at $226,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson dropped their price objective on shares of Alamo Group from $225.00 to $190.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. CJS Securities raised shares of Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a research note on Monday, December 29th. Finally, Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.33.

Alamo Group Price Performance

Alamo Group stock opened at $213.80 on Monday. Alamo Group, Inc. has a 52 week low of $156.29 and a 52 week high of $233.29. The company’s 50 day moving average price is $189.76 and its two-hundred day moving average price is $189.55. The stock has a market cap of $2.59 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.19 and a beta of 1.13. The company has a quick ratio of 2.72, a current ratio of 4.43 and a debt-to-equity ratio of 0.17.

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Friday, January 16th were given a $0.34 dividend. This is an increase from Alamo Group’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, January 16th. Alamo Group’s payout ratio is presently 14.11%.

Insider Transactions at Alamo Group

In other Alamo Group news, CEO Robert Paul Hureau bought 304 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $163.48 per share, with a total value of $49,697.92. Following the transaction, the chief executive officer directly owned 12,046 shares in the company, valued at $1,969,280.08. This trade represents a 2.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.18% of the stock is owned by company insiders.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.