First Interstate Bank bought a new position in shares of Alamo Group, Inc. (NYSE:ALG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,420 shares of the industrial products company’s stock, valued at approximately $130,000.
A number of other large investors also recently made changes to their positions in ALG. Itau Unibanco Holding S.A. bought a new position in Alamo Group during the 2nd quarter worth $166,000. UBS Group AG raised its position in Alamo Group by 83.8% during the 1st quarter. UBS Group AG now owns 1,601 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 730 shares during the last quarter. Russell Investments Group Ltd. raised its position in Alamo Group by 92.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,962 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 941 shares during the last quarter. SG Americas Securities LLC raised its position in Alamo Group by 39.0% during the 2nd quarter. SG Americas Securities LLC now owns 2,838 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 796 shares during the last quarter. Finally, Kalos Management Inc. bought a new position in Alamo Group during the 2nd quarter worth $515,000. 92.37% of the stock is owned by institutional investors and hedge funds.
Shares of Alamo Group stock opened at $86.47 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.27 and a quick ratio of 2.60. Alamo Group, Inc. has a 1-year low of $79.85 and a 1-year high of $120.58. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Monday, October 15th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, October 12th. This represents a $0.44 dividend on an annualized basis and a yield of 0.51%. Alamo Group’s payout ratio is currently 9.50%.
In other Alamo Group news, VP Richard J. Wehrle sold 6,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $95.05, for a total transaction of $570,300.00. Following the completion of the sale, the vice president now directly owns 16,404 shares in the company, valued at approximately $1,559,200.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.48% of the company’s stock.
Several brokerages recently issued reports on ALG. Zacks Investment Research raised Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Tuesday, August 7th. ValuEngine downgraded Alamo Group from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Finally, Sidoti upgraded Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 price target for the company in a report on Wednesday, October 24th.
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Alamo Group Profile
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.
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