Alamo Group, Inc. (ALG) Stake Raised by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,580 shares of the industrial products company’s stock after buying an additional 749 shares during the period. Northern Trust Corp owned 1.68% of Alamo Group worth $17,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Alamo Group by 54.7% during the second quarter. Victory Capital Management Inc. now owns 713,316 shares of the industrial products company’s stock valued at $64,455,000 after buying an additional 252,089 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Alamo Group by 35.5% in the second quarter. Epoch Investment Partners Inc. now owns 242,268 shares of the industrial products company’s stock worth $21,892,000 after purchasing an additional 63,454 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Alamo Group by 17.4% in the second quarter. PNC Financial Services Group Inc. now owns 231,476 shares of the industrial products company’s stock worth $20,918,000 after purchasing an additional 34,390 shares during the last quarter. Royce & Associates LP increased its position in Alamo Group by 42.8% in the second quarter. Royce & Associates LP now owns 100,646 shares of the industrial products company’s stock worth $9,094,000 after purchasing an additional 30,186 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Alamo Group by 3.8% in the second quarter. Bank of America Corp DE now owns 78,133 shares of the industrial products company’s stock worth $7,060,000 after purchasing an additional 2,865 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Shares of ALG opened at $91.02 on Friday. Alamo Group, Inc. has a fifty-two week low of $79.85 and a fifty-two week high of $120.58. The firm has a market capitalization of $1.01 billion, a P/E ratio of 16.47 and a beta of 0.95. The company has a current ratio of 4.66, a quick ratio of 2.92 and a debt-to-equity ratio of 0.25.

Alamo Group (NYSE:ALG) last announced its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.75 earnings per share for the quarter, hitting the consensus estimate of $1.75. Alamo Group had a net margin of 5.43% and a return on equity of 13.31%. The company had revenue of $257.57 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Monday, October 15th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, October 12th. Alamo Group’s dividend payout ratio is presently 9.50%.

ALG has been the topic of several research reports. ValuEngine cut shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Sidoti upgraded shares of Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Tuesday, August 7th.

In other Alamo Group news, VP Dan Edward Malone sold 1,964 shares of Alamo Group stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $96.13, for a total transaction of $188,799.32. Following the completion of the transaction, the vice president now directly owns 11,225 shares of the company’s stock, valued at $1,079,059.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard J. Wehrle sold 6,000 shares of Alamo Group stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $95.05, for a total transaction of $570,300.00. Following the transaction, the vice president now directly owns 16,404 shares of the company’s stock, valued at $1,559,200.20. The disclosure for this sale can be found here. 3.48% of the stock is owned by insiders.

About Alamo Group

Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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