Allspring Global Investments Holdings LLC Purchases 30,826 Shares of Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group Inc. (NYSE:ALG) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 672,728 shares of the industrial products company’s stock after buying an additional 30,826 shares during the period. Allspring Global Investments Holdings LLC owned approximately 5.58% of Alamo Group worth $121,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in shares of Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of Alamo Group in the 3rd quarter valued at $37,000. KBC Group NV lifted its holdings in Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Alamo Group by 10.4% in the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 63 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Alamo Group by 192.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 534 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

ALG stock opened at $187.49 on Wednesday. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $231.40. The business’s fifty day moving average is $186.67 and its 200-day moving average is $183.48. The company has a market cap of $2.26 billion, a P/E ratio of 18.88 and a beta of 1.10.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s dividend payout ratio (DPR) is presently 12.08%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALG shares. Robert W. Baird upped their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Activity

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value 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. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

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.