Hudson Edge Investment Partners Inc. Boosts Stake in Alamo Group Inc. (NYSE:ALG)

Hudson Edge Investment Partners Inc. raised its position in Alamo Group Inc. (NYSE:ALG) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,666 shares of the industrial products company’s stock after purchasing an additional 1,091 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Alamo Group were worth $867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Alamo Group by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 56,936 shares of the industrial products company’s stock valued at $10,585,000 after buying an additional 2,200 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Alamo Group by 2.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 11,008 shares of the industrial products company’s stock valued at $2,046,000 after acquiring an additional 303 shares during the period. Rhumbline Advisers lifted its holdings in shares of Alamo Group by 2.5% during the 4th quarter. Rhumbline Advisers now owns 33,166 shares of the industrial products company’s stock valued at $6,166,000 after acquiring an additional 801 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Alamo Group during the 4th quarter worth $1,842,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Alamo Group by 4.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after purchasing an additional 30,826 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alamo Group 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 transaction of $49,706.37. Following the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Alamo Group Price Performance

ALG opened at $188.54 on Friday. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $228.88. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 18.99 and a beta of 1.10. The company has a fifty day simple moving average of $185.04 and a 200 day simple moving average of $183.43.

Alamo Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, January 16th. Alamo Group’s payout ratio is presently 12.08%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Robert W. Baird boosted their price target 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 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.