Vanguard Group Inc. raised its stake in shares of Alamo Group, Inc. (NYSE:ALG) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,485 shares of the industrial products company’s stock after buying an additional 41,187 shares during the period. Vanguard Group Inc.’s holdings in Alamo Group were worth $37,828,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ALG. Thrivent Financial For Lutherans raised its stake in shares of Alamo Group by 5.1% in the first quarter. Thrivent Financial For Lutherans now owns 5,350 shares of the industrial products company’s stock valued at $408,000 after buying an additional 260 shares during the period. Legal & General Group Plc raised its stake in shares of Alamo Group by 1.2% in the first quarter. Legal & General Group Plc now owns 15,757 shares of the industrial products company’s stock valued at $1,202,000 after buying an additional 184 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Alamo Group by 11.3% in the first quarter. PNC Financial Services Group Inc. now owns 52,743 shares of the industrial products company’s stock valued at $4,018,000 after buying an additional 5,357 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Alamo Group by 30.1% in the first quarter. TIAA CREF Investment Management LLC now owns 52,438 shares of the industrial products company’s stock valued at $3,995,000 after buying an additional 12,124 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Alamo Group by 3.5% in the first quarter. Principal Financial Group Inc. now owns 75,471 shares of the industrial products company’s stock valued at $5,750,000 after buying an additional 2,522 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Shares of Alamo Group, Inc. (NYSE:ALG) traded up 0.83% during mid-day trading on Monday, hitting $91.94. 632 shares of the stock traded hands. The firm has a market capitalization of $1.07 billion, a P/E ratio of 23.63 and a beta of 0.95. The company’s 50 day moving average is $92.34 and its 200 day moving average is $82.76. Alamo Group, Inc. has a one year low of $58.30 and a one year high of $95.62.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.05. Alamo Group had a net margin of 5.32% and a return on equity of 11.78%. The business had revenue of $213.28 million for the quarter, compared to the consensus estimate of $217.90 million. On average, equities analysts expect that Alamo Group, Inc. will post $4.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 17th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.44%. Alamo Group’s dividend payout ratio (DPR) is presently 10.28%.

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Several brokerages have recently weighed in on ALG. Zacks Investment Research upgraded shares of Alamo Group from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Tuesday, August 8th. BidaskClub lowered shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $90.00 target price on shares of Alamo Group in a research report on Friday, July 14th. Finally, Seaport Global Securities lifted their target price on shares of Alamo Group from $71.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, May 8th.

In related news, VP Dan Edward Malone sold 950 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $90.75, for a total value of $86,212.50. Following the transaction, the vice president now directly owns 11,950 shares in the company, valued at $1,084,462.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David W. Grzelak sold 2,201 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $92.18, for a total transaction of $202,888.18. Following the completion of the transaction, the director now owns 1,325 shares in the company, valued at $122,138.50. The disclosure for this sale can be found here. Insiders sold 3,335 shares of company stock worth $305,830 over the last 90 days. 3.99% of the stock is currently owned by corporate insiders.

About Alamo Group

Alamo Group Inc is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. The Company operates in Industrial, Agricultural and European segments. The Company’s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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