Allspring Global Investments Holdings LLC Has $112.30 Million Stake in Alamo Group, Inc. $ALG

Allspring Global Investments Holdings LLC reduced its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 660,593 shares of the industrial products company’s stock after selling 5,734 shares during the period. Allspring Global Investments Holdings LLC owned 5.45% of Alamo Group worth $112,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in Alamo Group by 136.2% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 177 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Alamo Group by 3,140.0% in the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock valued at $58,000 after buying an additional 314 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Alamo Group during the 2nd quarter worth approximately $87,000. Kestra Advisory Services LLC bought a new position in shares of Alamo Group during the 4th quarter worth approximately $76,000. Finally, Globeflex Capital L P acquired a new stake in shares of Alamo Group during the 2nd quarter worth approximately $100,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings cut shares of Alamo Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. DA Davidson reissued a “neutral” rating and set a $188.00 price objective on shares of Alamo Group in a research report on Wednesday, July 1st. Finally, Zacks Research upgraded Alamo Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Alamo Group has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Alamo Group Stock Down 1.9%

ALG opened at $162.53 on Friday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09. Alamo Group, Inc. has a one year low of $145.76 and a one year high of $233.29. The company has a fifty day moving average price of $157.44 and a 200-day moving average price of $174.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.32 and a quick ratio of 2.45.

Alamo Group (NYSE:ALG) last announced its earnings results on Monday, May 4th. The industrial products company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.36. The business had revenue of $417.15 million for the quarter, compared to analyst estimates of $398.02 million. Alamo Group had a return on equity of 9.71% and a net margin of 6.21%. Equities research analysts expect that Alamo Group, Inc. will post 10.65 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Thursday, July 16th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, July 16th. Alamo Group’s dividend payout ratio is presently 16.27%.

Alamo Group Company Profile

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.