GW&K Investment Management LLC trimmed its position in Alamo Group, Inc. (NYSE:ALG) by 15.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,226 shares of the industrial products company’s stock after selling 35,695 shares during the quarter. GW&K Investment Management LLC owned 1.68% of Alamo Group worth $22,035,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Alamo Group by 76.3% in the third quarter. JPMorgan Chase & Co. now owns 16,889 shares of the industrial products company’s stock worth $1,808,000 after buying an additional 7,308 shares during the period. PEAK6 Investments L.P. increased its stake in shares of Alamo Group by 254.1% in the third quarter. PEAK6 Investments L.P. now owns 8,208 shares of the industrial products company’s stock worth $881,000 after buying an additional 5,890 shares during the period. Bessemer Group Inc. increased its stake in shares of Alamo Group by 84.8% in the third quarter. Bessemer Group Inc. now owns 12,200 shares of the industrial products company’s stock worth $1,310,000 after buying an additional 5,600 shares during the period. State Street Corp increased its stake in shares of Alamo Group by 5.7% in the second quarter. State Street Corp now owns 225,191 shares of the industrial products company’s stock worth $20,447,000 after buying an additional 12,110 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Alamo Group by 7.9% in the third quarter. Wells Fargo & Company MN now owns 16,936 shares of the industrial products company’s stock worth $1,818,000 after buying an additional 1,247 shares during the period. 91.39% of the stock is currently owned by institutional investors.
Several brokerages recently commented on ALG. ValuEngine raised shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Alamo Group from a “sell” rating to a “strong-buy” rating and set a $131.00 target price on the stock in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Alamo Group currently has an average rating of “Hold” and an average target price of $105.00.
Alamo Group, Inc. (NYSE:ALG) traded down $0.94 during trading hours on Monday, reaching $110.30. 46,556 shares of the company traded hands, compared to its average volume of 57,326. The company has a market capitalization of $1,293.99, a PE ratio of 26.65 and a beta of 0.93. Alamo Group, Inc. has a twelve month low of $70.53 and a twelve month high of $120.58. The company has a current ratio of 4.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.28.
The business also recently declared a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Tuesday, January 16th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $0.44 annualized dividend and a yield of 0.40%. This is a boost from Alamo Group’s previous quarterly dividend of $0.10. Alamo Group’s payout ratio is 10.55%.
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About Alamo Group
Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.
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