Franklin Resources Inc. Lowers Stake in Alamo Group Inc. (NYSE:ALG)

Franklin Resources Inc. reduced its position in Alamo Group Inc. (NYSE:ALG) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,158 shares of the industrial products company’s stock after selling 1,218 shares during the quarter. Franklin Resources Inc.’s holdings in Alamo Group were worth $17,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares during the period. Victory Capital Management Inc. grew its holdings in Alamo Group by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock valued at $74,830,000 after buying an additional 28,786 shares in the last quarter. State Street Corp raised its position in shares of Alamo Group by 2.6% during the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after buying an additional 10,013 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Alamo Group by 17.1% in the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after buying an additional 50,327 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after acquiring an additional 670 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALG has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted their target price on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th.

Alamo Group Trading Down 3.2 %

ALG stock opened at $188.34 on Friday. The firm has a fifty day moving average price of $189.39 and a 200 day moving average price of $181.85. 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 $2.27 billion, a PE ratio of 18.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Alamo Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a $0.26 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group’s payout ratio is currently 10.47%.

Insider Transactions at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction that occurred on 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 transaction, the vice president now owns 3,360 shares in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. 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.