9,909 Shares in Alamo Group Inc. (NYSE:ALG) Bought by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of Alamo Group Inc. (NYSE:ALG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,909 shares of the industrial products company’s stock, valued at approximately $1,842,000. Legato Capital Management LLC owned about 0.08% of Alamo Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors acquired a new stake in Alamo Group during the 3rd quarter worth about $37,000. KBC Group NV lifted its position in Alamo Group by 57.1% during 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 during the period. Huntington National Bank lifted its position in Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after acquiring an additional 63 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Alamo Group by 192.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 812 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 534 shares during the period. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Alamo Group Stock Performance

Shares of ALG stock opened at $187.49 on Wednesday. The stock has a market cap of $2.26 billion, a PE ratio of 18.88 and a beta of 1.10. The business has a 50-day simple moving average of $186.67 and a 200-day simple moving average of $183.48. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 52-week low of $163.74 and a 52-week high of $231.40.

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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, January 16th. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is 12.08%.

Insider Activity

In related news, VP Janet S. Pollock sold 257 shares of Alamo Group 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 transaction, the vice president now owns 3,360 shares in the company, valued at $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 is available at the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ALG shares. StockNews.com cut Alamo Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird lifted 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.