Trust Point Inc. Trims Stake in Alamo Group Inc. (NYSE:ALG)

Trust Point Inc. reduced its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,725 shares of the industrial products company’s stock after selling 1,571 shares during the period. Trust Point Inc.’s holdings in Alamo Group were worth $321,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors purchased a new stake in shares of Alamo Group in the third quarter worth $37,000. KBC Group NV increased its stake in shares of Alamo Group by 57.1% in the fourth quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares in the last quarter. Huntington National Bank increased its stake in shares of Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 63 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Alamo Group by 192.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 534 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $181.84 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a fifty day moving average price of $187.91 and a 200 day moving average price of $183.57. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 18.31 and a beta of 1.10.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were given a dividend of $0.30 per share. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.66%. Alamo Group’s dividend payout ratio is currently 12.08%.

Wall Street Analyst Weigh In

ALG has been the subject of a number of analyst reports. Robert W. Baird increased their price objective 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. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th.

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.