IndexIQ Advisors LLC lowered its position in shares of Alamo Group, Inc. (NYSE:ALG) by 24.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,116 shares of the industrial products company’s stock after selling 2,576 shares during the quarter. IndexIQ Advisors LLC owned about 0.07% of Alamo Group worth $1,019,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of ALG. Rhumbline Advisers lifted its stake in shares of Alamo Group by 4.7% in the fourth quarter. Rhumbline Advisers now owns 31,452 shares of the industrial products company’s stock worth $3,949,000 after acquiring an additional 1,419 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Alamo Group in the fourth quarter worth approximately $33,537,000. New York State Common Retirement Fund lifted its stake in shares of Alamo Group by 354.2% in the fourth quarter. New York State Common Retirement Fund now owns 48,144 shares of the industrial products company’s stock worth $6,044,000 after acquiring an additional 37,544 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Alamo Group by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 81,593 shares of the industrial products company’s stock worth $10,244,000 after acquiring an additional 2,503 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 15.4% in the fourth quarter. Victory Capital Management Inc. now owns 706,769 shares of the industrial products company’s stock worth $88,036,000 after acquiring an additional 94,430 shares during the period. 94.25% of the stock is owned by institutional investors.
Shares of ALG opened at $130.13 on Friday. Alamo Group, Inc. has a 52-week low of $88.09 and a 52-week high of $131.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.65 and a current ratio of 4.36. The business’s 50 day moving average price is $126.76 and its two-hundred day moving average price is $117.84. The firm has a market cap of $1.54 billion, a PE ratio of 22.12 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were paid a $0.13 dividend. The ex-dividend date was Wednesday, January 15th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.40%. Alamo Group’s payout ratio is 8.71%.
ALG has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Alamo Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Dougherty & Co lowered Alamo Group from a “buy” rating to a “neutral” rating in a research note on Sunday, November 3rd. Finally, ValuEngine lowered Alamo Group from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th.
Alamo Group Profile
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-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.
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