Heritage Family Offices LLP Makes New Investment in Alamo Group Inc. (NYSE:ALG)

Heritage Family Offices LLP purchased a new stake in shares of Alamo Group Inc. (NYSE:ALG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,254 shares of the industrial products company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Alamo Group by 7.6% in the 3rd 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 last quarter. Victory Capital Management Inc. grew its stake 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 buying an additional 28,786 shares in the last quarter. State Street Corp grew its stake in shares of Alamo Group by 2.6% in the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after buying an additional 10,013 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Alamo Group by 17.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after buying an additional 50,327 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after acquiring an additional 670 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 3,360 shares in the company, valued at $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $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 Stock Performance

Shares of ALG stock opened at $181.41 on Friday. The firm has a 50 day moving average of $190.52 and a two-hundred day moving average of $182.32. The stock has a market capitalization of $2.19 billion, a PE ratio of 18.27 and a beta of 1.11. 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 52 week low of $163.74 and a 52 week high of $231.40.

Alamo Group Increases Dividend

The business 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 $0.30 dividend. 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. Alamo Group’s dividend payout ratio (DPR) is 10.47%.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target 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.

About Alamo Group

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.