Victory Capital Management Inc. Purchases 33,294 Shares of Alamo Group Inc. (NYSE:ALG)

Victory Capital Management Inc. raised its holdings in Alamo Group Inc. (NYSE:ALG) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 448,718 shares of the industrial products company’s stock after buying an additional 33,294 shares during the quarter. Victory Capital Management Inc.’s holdings in Alamo Group were worth $83,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in shares of Alamo Group by 700.0% during the 3rd 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. JNBA Financial Advisors bought a new position in shares of Alamo Group during the third quarter valued at $37,000. Smartleaf Asset Management LLC boosted its position in Alamo Group by 442.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after buying an additional 168 shares in the last quarter. KBC Group NV boosted its holdings in shares of Alamo Group by 57.1% in the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 189 shares in the last quarter. Finally, Huntington National Bank boosted its stake in 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. Institutional investors and hedge funds own 92.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. DA Davidson dropped their target price on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a research note on Monday. Baird R W cut shares of Alamo Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird lowered Alamo Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $224.00 to $177.00 in a research report on Friday, February 28th. Finally, StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday.

Alamo Group Stock Up 2.6 %

Shares of NYSE:ALG opened at $182.91 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 18.42 and a beta of 1.10. The company has a 50 day moving average of $183.05 and a 200-day moving average of $184.06. Alamo Group Inc. has a one year low of $163.74 and a one year high of $228.88.

Alamo Group (NYSE:ALG) last released its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.16. The firm had revenue of $385.32 million during the quarter, compared to analyst estimates of $396.85 million. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. On average, sell-side analysts forecast that Alamo Group Inc. will post 9.53 earnings per share for the current year.

Alamo Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a $0.30 dividend. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, January 16th. This represents a $1.20 annualized dividend and a yield of 0.66%. Alamo Group’s dividend payout ratio is presently 12.46%.

Insiders Place Their Bets

In other news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

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.