Alamo Group Inc. (NYSE:ALG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 54,736 shares of the industrial products company’s stock after selling 427 shares during the quarter. Principal Financial Group Inc.’s holdings in Alamo Group were worth $9,860,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALG. Nisa Investment Advisors LLC boosted its holdings in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new position in shares of Alamo Group in the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its position in shares of Alamo Group by 174.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Alamo Group during the 2nd quarter worth approximately $48,000. Finally, Quarry LP acquired a new position in Alamo Group during the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. 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 note on Wednesday, August 28th. Robert W. Baird boosted their price objective on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred 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 directly owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction 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 completion of the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade 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 company insiders.

Alamo Group Price Performance

Shares of NYSE ALG opened at $193.49 on Tuesday. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.57 and a beta of 1.08. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The firm has a 50-day simple moving average of $179.79 and a 200-day simple moving average of $181.23. 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 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 paid a dividend of $0.26 per share. 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 (DPR) is presently 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.