Argent Capital Management LLC Grows Stake in Alamo Group Inc. (NYSE:ALG)

Argent Capital Management LLC raised its stake in Alamo Group Inc. (NYSE:ALG) by 38.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,239 shares of the industrial products company’s stock after buying an additional 1,184 shares during the period. Argent Capital Management LLC’s holdings in Alamo Group were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ALG. Wellington Management Group LLP bought a new stake in shares of Alamo Group in the third quarter valued at approximately $35,759,000. Assenagon Asset Management S.A. raised its position in shares of Alamo Group by 1,486.1% in the third quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock valued at $12,823,000 after purchasing an additional 66,698 shares during the period. Westwood Holdings Group Inc. raised its position in shares of Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after purchasing an additional 50,327 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Alamo Group by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Alamo Group by 7.4% in the third quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after purchasing an additional 28,786 shares during the period. Institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price target on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 4th.

Insider Buying and Selling

In other news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Janet S. Pollock sold 257 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the transaction, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. The trade was a 7.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Alamo Group Stock Performance

Alamo Group stock opened at $181.05 on Thursday. The firm’s 50 day simple moving average is $190.84 and its 200 day simple moving average is $182.33. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.18 billion, a PE ratio of 18.23 and a beta of 1.11. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $231.40.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Thursday, January 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio is 12.08%.

Alamo Group Company Profile

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. It operates through two segments, Vegetation Management and Industrial Equipment. Its Vegetation Management Division segment offers hydraulically-powered and tractor – and off-road chassis mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.