Tidal Investments LLC Buys 113 Shares of Alamo Group Inc. (NYSE:ALG)

Tidal Investments LLC boosted its stake in Alamo Group Inc. (NYSE:ALG) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,093 shares of the industrial products company’s stock after purchasing an additional 113 shares during the period. Tidal Investments LLC’s holdings in Alamo Group were worth $557,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Alamo Group in the third quarter worth $35,759,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Alamo Group by 48.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock worth $103,191,000 after acquiring an additional 193,463 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Alamo Group by 1,486.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after purchasing an additional 66,698 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Alamo Group by 17.1% during the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after purchasing an additional 50,327 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Alamo Group by 9.4% in the second quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock worth $66,888,000 after buying an additional 33,190 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, 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. Insiders own 1.40% of the company’s stock.

Alamo Group Stock Performance

NYSE:ALG opened at $188.34 on Monday. The stock has a 50-day moving average price of $189.39 and a 200 day moving average price of $181.79. The stock has a market capitalization of $2.27 billion, a P/E ratio of 18.97 and a beta of 1.10. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $231.40. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s payout ratio is currently 10.47%.

Analyst Ratings Changes

ALG has been the subject of a number of recent research reports. DA Davidson boosted their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird increased their price objective 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.

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.