Vaughan Nelson Investment Management L.P. Has $58.08 Million Position in Alamo Group Inc. (NYSE:ALG)

Vaughan Nelson Investment Management L.P. decreased its position in shares of Alamo Group Inc. (NYSE:ALG) by 13.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 322,423 shares of the industrial products company’s stock after selling 50,515 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Alamo Group were worth $58,077,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in shares of Alamo Group by 7.6% during the first quarter. Sei Investments Co. now owns 12,300 shares of the industrial products company’s stock valued at $2,808,000 after acquiring an additional 873 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Alamo Group by 15.3% in the 1st quarter. Russell Investments Group Ltd. now owns 6,570 shares of the industrial products company’s stock valued at $1,500,000 after purchasing an additional 873 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Alamo Group during the 1st quarter worth approximately $1,067,000. UniSuper Management Pty Ltd bought a new stake in shares of Alamo Group during the first quarter worth approximately $466,000. Finally, Bessemer Group Inc. lifted its holdings in Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after buying an additional 264 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on ALG shares. Robert W. Baird lifted their target price on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Stock Up 0.7 %

Alamo Group stock opened at $194.31 on Friday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 19.57 and a beta of 1.08. The company’s 50 day simple moving average is $179.79 and its 200 day simple moving average is $181.41. 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 Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40.

Alamo Group Dividend Announcement

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

Insider Activity at Alamo Group

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward Rizzuti sold 322 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 898 shares of company stock worth $165,856 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

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.