Aigen Investment Management LP Invests $206,000 in Alamo Group Inc. (NYSE:ALG)

Aigen Investment Management LP bought a new stake in Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,107 shares of the industrial products company’s stock, valued at approximately $206,000.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Alamo Group in the 3rd quarter valued at about $35,759,000. Victory Capital Management Inc. increased its holdings in Alamo Group by 8.0% in the fourth quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock worth $83,421,000 after purchasing an additional 33,294 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Alamo Group by 4.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock valued at $121,205,000 after buying an additional 30,826 shares during the period. Advantage Alpha Capital Partners LP bought a new position in shares of Alamo Group during the 3rd quarter worth approximately $3,014,000. Finally, Tributary Capital Management LLC grew its position in shares of Alamo Group by 16.0% during the 4th quarter. Tributary Capital Management LLC now owns 116,584 shares of the industrial products company’s stock worth $21,674,000 after buying an additional 16,093 shares during the period. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Performance

Shares of ALG stock opened at $183.28 on Monday. 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 fifty day simple moving average of $183.01 and a two-hundred day simple moving average of $184.17. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $228.88. The firm has a market capitalization of $2.21 billion, a PE ratio of 18.46 and a beta of 1.10.

Alamo Group (NYSE:ALG) last posted its earnings results on Thursday, February 27th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.23 by $0.16. Alamo Group had a net margin of 7.19% and a return on equity of 12.41%. The company had revenue of $385.32 million during the quarter, compared to the consensus estimate of $396.85 million. Analysts forecast that Alamo Group Inc. will post 9.53 EPS for the current fiscal year.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. Alamo Group’s dividend payout ratio is 12.46%.

Analyst Ratings Changes

A number of research firms have commented on ALG. DA Davidson reduced their price target on shares of Alamo Group from $219.00 to $217.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird downgraded Alamo Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $224.00 to $177.00 in a research note on Friday, February 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Baird R W cut Alamo Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th.

Insider Activity

In related news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction 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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. Corporate 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.