Vaughan Nelson Investment Management L.P. Sells 50,515 Shares of Alamo Group Inc. (NYSE:ALG)

Vaughan Nelson Investment Management L.P. lessened its stake in Alamo Group Inc. (NYSE:ALG) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 322,423 shares of the industrial products company’s stock after selling 50,515 shares during the period. Vaughan Nelson Investment Management L.P. owned about 2.67% of Alamo Group worth $58,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ALG. Huntington National Bank lifted its position in shares of Alamo Group by 10.4% in the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 63 shares during the period. Victory Capital Management Inc. lifted its position in 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 worth $74,830,000 after purchasing an additional 28,786 shares during the period. GSA Capital Partners LLP bought a new position in Alamo Group in the third quarter worth $1,138,000. State of New Jersey Common Pension Fund D boosted its stake in Alamo Group by 10.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,705 shares of the industrial products company’s stock worth $1,928,000 after buying an additional 971 shares in the last quarter. Finally, JNBA Financial Advisors bought a new stake in Alamo Group in the 3rd quarter valued at $37,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

Alamo Group stock opened at $194.31 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 19.57 and a beta of 1.08. The stock has a fifty day moving average price of $179.79 and a two-hundred day moving average price of $181.41. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $231.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 10.47%.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 276 shares of Alamo Group 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 completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 898 shares of company stock valued at $165,856. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird raised 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.

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.