Vaughan Nelson Investment Management L.P. Has $44.86 Million Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Vaughan Nelson Investment Management L.P. lowered its stake in shares of Alamo Group Inc. (NYSE:ALG) by 25.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 241,311 shares of the industrial products company’s stock after selling 81,112 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Alamo Group were worth $44,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Millennium Management LLC grew its stake in Alamo Group by 543.8% in the second quarter. Millennium Management LLC now owns 28,211 shares of the industrial products company’s stock valued at $4,881,000 after purchasing an additional 23,829 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Alamo Group in the second quarter worth approximately $643,000. Inspire Investing LLC bought a new position in Alamo Group during the third quarter valued at approximately $887,000. Wedge Capital Management L L P NC acquired a new stake in Alamo Group in the third quarter valued at approximately $3,945,000. Finally, Creative Planning grew its position in Alamo Group by 33.2% in the third quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 499 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Janet S. Pollock sold 257 shares of the 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 completion of the sale, the vice president now owns 3,360 shares in the company, valued at $649,857.60. This represents a 7.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by company insiders.

Alamo Group Price Performance

Shares of Alamo Group stock opened at $184.98 on Friday. 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 $187.00 and a 200-day simple moving average of $183.55. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.63 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.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s dividend payout ratio is 12.08%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALG. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. 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.

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.