Handelsbanken Fonder AB Cuts Position in Alamo Group Inc. (NYSE:ALG)

Handelsbanken Fonder AB decreased its holdings in Alamo Group Inc. (NYSE:ALG) by 13.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 70,000 shares of the industrial products company’s stock after selling 11,179 shares during the period. Handelsbanken Fonder AB’s holdings in Alamo Group were worth $13,014,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALG. Huntington National Bank grew its position in Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 63 shares in the last quarter. Aurora Investment Counsel grew its position in Alamo Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 85 shares in the last quarter. FORA Capital LLC grew its position in Alamo Group by 6.7% in the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after acquiring an additional 88 shares in the last quarter. Tidal Investments LLC grew its position in Alamo Group by 3.8% in the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 113 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird increased their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Alamo Group Stock Up 0.1 %

ALG stock opened at $188.54 on Friday. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $228.88. 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 company has a market capitalization of $2.27 billion, a P/E ratio of 18.99 and a beta of 1.10. The firm has a 50 day simple moving average of $185.04 and a 200-day simple moving average of $183.43.

Alamo Group Increases Dividend

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

Insider Transactions at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

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.