Tributary Capital Management LLC Acquires 16,093 Shares of Alamo Group Inc. (NYSE:ALG)

Tributary Capital Management LLC raised its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 16.0% in the fourth quarter, HoldingsChannel reports. The firm owned 116,584 shares of the industrial products company’s stock after buying an additional 16,093 shares during the quarter. Alamo Group makes up 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 27th biggest position. Tributary Capital Management LLC’s holdings in Alamo Group were worth $21,674,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in Alamo Group by 700.0% during the 3rd 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 during the period. JNBA Financial Advisors purchased a new position in shares of Alamo Group during the third quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group in the second quarter worth about $48,000. Quarry LP bought a new stake in Alamo Group during the 2nd quarter valued at approximately $48,000. Finally, Huntington National Bank grew its holdings in shares of Alamo Group by 10.4% during 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 during the period. 92.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of several research reports. StockNews.com upgraded Alamo Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $185.40 on Friday. The company has a market capitalization of $2.24 billion, a PE ratio of 18.67 and a beta of 1.11. The business has a fifty day moving average price of $189.43 and a 200-day moving average price of $182.87. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $231.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Thursday, January 16th will be issued a $0.30 dividend. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 16th. Alamo Group’s payout ratio is presently 12.08%.

Insider Activity at Alamo Group

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

Alamo Group 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.