Principal Financial Group Inc. Has $11.60 Million Position in Alamo Group, Inc. $ALG

Principal Financial Group Inc. boosted its position in Alamo Group, Inc. (NYSE:ALG) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,764 shares of the industrial products company’s stock after purchasing an additional 2,429 shares during the quarter. Principal Financial Group Inc.’s holdings in Alamo Group were worth $11,600,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of Alamo Group by 3,140.0% during the first quarter. Jones Financial Companies Lllp now owns 324 shares of the industrial products company’s stock worth $58,000 after buying an additional 314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Alamo Group during the second quarter worth about $87,000. Globeflex Capital L P bought a new position in Alamo Group during the second quarter worth about $100,000. Tower Research Capital LLC TRC raised its stake in Alamo Group by 152.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 858 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 518 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Alamo Group in the 2nd quarter worth about $218,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

Shares of NYSE:ALG opened at $210.28 on Thursday. Alamo Group, Inc. has a 1 year low of $156.29 and a 1 year high of $233.29. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.43 and a quick ratio of 2.72. The company’s 50 day simple moving average is $183.92 and its 200 day simple moving average is $190.33.

Alamo Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Stockholders of record on Friday, January 16th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.30. Alamo Group’s dividend payout ratio is 14.11%.

Analyst Ratings Changes

ALG has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Alamo Group in a research report on Monday, December 29th. DA Davidson cut their price target on Alamo Group from $225.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Zacks Research raised Alamo Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen cut Alamo Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, CJS Securities upgraded Alamo Group to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.33.

Insider Activity at Alamo Group

In other Alamo Group news, CEO Robert Paul Hureau purchased 304 shares of the stock in a transaction dated Wednesday, November 26th. The stock was bought at an average price of $163.48 per share, with a total value of $49,697.92. Following the acquisition, the chief executive officer owned 12,046 shares of the company’s stock, valued at approximately $1,969,280.08. This represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Alamo Group Profile

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.