Legato Capital Management LLC Purchases New Position in Alamo Group Inc. (NYSE:ALG)

Legato Capital Management LLC purchased a new stake in Alamo Group Inc. (NYSE:ALG) in the 4th quarter, HoldingsChannel reports. The firm purchased 9,909 shares of the industrial products company’s stock, valued at approximately $1,842,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALG. Creative Planning increased its stake in Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after buying an additional 499 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in Alamo Group during the 3rd quarter worth approximately $3,014,000. Barclays PLC increased its stake in Alamo Group by 204.7% during the 3rd quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock worth $4,039,000 after buying an additional 15,061 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alamo Group by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,555 shares of the industrial products company’s stock worth $13,790,000 after buying an additional 9,710 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Activity

In related news, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ALG shares. StockNews.com lowered Alamo Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Price Performance

ALG stock opened at $187.49 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The business has a 50 day simple moving average of $186.67 and a 200-day simple moving average of $183.48. The firm has a market capitalization of $2.26 billion, a PE ratio of 18.88 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 business also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were given a $0.30 dividend. The ex-dividend date was Thursday, January 16th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. Alamo Group’s dividend payout ratio is 12.08%.

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.