US Bancorp DE Sells 510 Shares of Alamo Group, Inc. $ALG

US Bancorp DE lessened its holdings in shares of Alamo Group, Inc. (NYSE:ALG) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,433 shares of the industrial products company’s stock after selling 510 shares during the period. US Bancorp DE’s holdings in Alamo Group were worth $3,807,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in Alamo Group in the first quarter valued at about $8,361,000. New York State Teachers Retirement System boosted its holdings in Alamo Group by 4.1% in the first quarter. New York State Teachers Retirement System now owns 2,512 shares of the industrial products company’s stock valued at $448,000 after acquiring an additional 100 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Alamo Group by 3.1% in the first quarter. Principal Financial Group Inc. now owns 58,673 shares of the industrial products company’s stock valued at $10,456,000 after acquiring an additional 1,737 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Alamo Group by 110.6% in the first quarter. GAMMA Investing LLC now owns 238 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 125 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Alamo Group by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 699,563 shares of the industrial products company’s stock valued at $125,732,000 after acquiring an additional 26,835 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

ALG has been the topic of several recent research reports. DA Davidson reiterated a “neutral” rating and issued a $225.00 price target on shares of Alamo Group in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alamo Group in a report on Wednesday, October 8th. Wall Street Zen upgraded Alamo Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Baird R W raised Alamo Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 4th. Finally, Robert W. Baird raised Alamo Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $209.00 to $260.00 in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $234.00.

Alamo Group Trading Down 0.4%

NYSE:ALG opened at $181.80 on Tuesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.95 and a beta of 1.08. The company has a current ratio of 4.56, a quick ratio of 2.76 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $206.90 and its two-hundred day moving average price is $201.33. Alamo Group, Inc. has a 1-year low of $157.07 and a 1-year high of $233.29.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.57 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.12). The business had revenue of $419.07 million for the quarter, compared to analyst estimates of $406.75 million. Alamo Group had a return on equity of 11.45% and a net margin of 7.41%. On average, equities analysts expect that Alamo Group, Inc. will post 9.53 earnings per share for the current year.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.7%. Alamo Group’s dividend payout ratio (DPR) is currently 12.22%.

Insider Activity at Alamo Group

In other news, CEO Jeffery Allen Leonard sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $222.19, for a total transaction of $555,475.00. Following the sale, the chief executive officer owned 38,413 shares of the company’s stock, valued at $8,534,984.47. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.18% of the stock is currently owned by corporate insiders.

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.