Allspring Global Investments Holdings LLC Has $83.91 Million Stake in Alamo Group Inc. (NYSE:ALG)

Allspring Global Investments Holdings LLC increased its stake in Alamo Group Inc. (NYSE:ALG) by 42.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 399,190 shares of the industrial products company’s stock after purchasing an additional 119,636 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alamo Group were worth $83,906,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ALG. Tower Research Capital LLC TRC raised its position in shares of Alamo Group by 33.5% in the second quarter. Tower Research Capital LLC TRC now owns 271 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 68 shares during the period. NewEdge Advisors LLC grew its stake in Alamo Group by 5,380.0% in the 1st quarter. NewEdge Advisors LLC now owns 274 shares of the industrial products company’s stock valued at $50,000 after buying an additional 269 shares during the last quarter. FMR LLC raised its holdings in Alamo Group by 17.4% in the 2nd quarter. FMR LLC now owns 701 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 104 shares during the period. Captrust Financial Advisors lifted its position in Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 223 shares during the last quarter. Finally, State of Wyoming lifted its position in Alamo Group by 61.5% during the 2nd quarter. State of Wyoming now owns 1,043 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 397 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price target on Alamo Group from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. StockNews.com raised Alamo Group from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $222.78 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 1.99. The company has a market cap of $2.68 billion, a PE ratio of 19.61 and a beta of 1.04. The firm has a fifty day moving average price of $212.43 and a two-hundred day moving average price of $196.77. Alamo Group Inc. has a fifty-two week low of $157.74 and a fifty-two week high of $231.40.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 22nd. The industrial products company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.85 by ($0.22). Alamo Group had a net margin of 8.06% and a return on equity of 15.52%. The company had revenue of $417.54 million during the quarter. Analysts expect that Alamo Group Inc. will post 13.17 EPS for the current year.

Alamo Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, April 15th. Alamo Group’s payout ratio is presently 9.15%.

Insider Activity

In related news, EVP Michael A. Haberman sold 418 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $223.87, for a total value of $93,577.66. Following the completion of the transaction, the executive vice president now directly owns 19,206 shares of the company’s stock, valued at $4,299,647.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

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.