Y Intercept Hong Kong Ltd Has $665,000 Stock Position in Alamo Group Inc. (NYSE:ALG)

Y Intercept Hong Kong Ltd trimmed its position in Alamo Group Inc. (NYSE:ALG) by 36.3% during the third quarter, Holdings Channel reports. The institutional investor owned 3,690 shares of the industrial products company’s stock after selling 2,105 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Alamo Group were worth $665,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of Alamo Group during the third quarter worth approximately $35,759,000. Allspring Global Investments Holdings LLC lifted its position in Alamo Group by 48.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 596,480 shares of the industrial products company’s stock valued at $103,191,000 after acquiring an additional 193,463 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Alamo Group by 1,486.1% during the third quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after buying an additional 66,698 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Alamo Group by 17.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock worth $59,635,000 after purchasing an additional 50,327 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in Alamo Group by 62.9% during the second quarter. Tributary Capital Management LLC now owns 91,640 shares of the industrial products company’s stock worth $15,854,000 after acquiring an additional 35,388 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $193.10 on Friday. The company has a market capitalization of $2.33 billion, a P/E ratio of 19.45 and a beta of 1.10. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $231.40. The firm’s 50 day simple moving average is $187.32 and its two-hundred day simple moving average is $181.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALG shares. Robert W. Baird lifted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DA Davidson increased 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.

About Alamo Group

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.