GSA Capital Partners LLP Makes New Investment in Alamo Group Inc. (NYSE:ALG)

GSA Capital Partners LLP purchased a new stake in Alamo Group Inc. (NYSE:ALG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,320 shares of the industrial products company’s stock, valued at approximately $1,138,000. GSA Capital Partners LLP owned 0.05% of Alamo Group at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALG. Sei Investments Co. grew its holdings in Alamo Group by 7.6% during the 1st quarter. Sei Investments Co. now owns 12,300 shares of the industrial products company’s stock worth $2,808,000 after acquiring an additional 873 shares during the period. Russell Investments Group Ltd. increased its holdings in Alamo Group by 15.3% in the first quarter. Russell Investments Group Ltd. now owns 6,570 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 873 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Alamo Group in the first quarter valued at approximately $1,067,000. UniSuper Management Pty Ltd bought a new position in shares of Alamo Group during the 1st quarter worth approximately $466,000. Finally, Bessemer Group Inc. grew its position in shares of Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after buying an additional 264 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ALG. Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. DA Davidson increased their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th.

Insider Activity

In related news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 898 shares of company stock valued at $165,856 over the last quarter. Company insiders own 1.40% of the company’s stock.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $193.43 on Friday. The firm has a market capitalization of $2.33 billion, a P/E ratio of 19.74 and a beta of 1.08. 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 business’s fifty day simple moving average is $178.91 and its 200 day simple moving average is $181.36. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 10.47%.

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.