Rice Hall James & Associates LLC Sells 413 Shares of Alamo Group Inc. (NYSE:ALG)

Rice Hall James & Associates LLC trimmed its position in Alamo Group Inc. (NYSE:ALG) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,500 shares of the industrial products company’s stock after selling 413 shares during the period. Rice Hall James & Associates LLC owned about 0.15% of Alamo Group worth $3,439,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALG. Wellington Management Group LLP bought a new stake in Alamo Group in the 3rd quarter worth about $35,759,000. Assenagon Asset Management S.A. boosted its stake in Alamo Group by 1,486.1% in the third quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock valued at $12,823,000 after acquiring an additional 66,698 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after acquiring an additional 30,826 shares during the last quarter. Victory Capital Management Inc. boosted its stake 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 valued at $74,830,000 after acquiring an additional 28,786 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Alamo Group by 152.5% in the third quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock valued at $8,367,000 after acquiring an additional 28,054 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Alamo Group Stock Performance

Shares of ALG stock opened at $187.02 on Wednesday. The stock has a market capitalization of $2.26 billion, a P/E ratio of 18.83 and a beta of 1.10. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm’s 50 day moving average is $185.46 and its 200 day moving average is $183.27. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $228.88.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were paid a dividend of $0.30 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Thursday, January 16th. Alamo Group’s dividend payout ratio is presently 12.08%.

Insider Activity at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Alamo Group Company 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.