ZWJ Investment Counsel Inc. Purchases New Shares in Alamo Group Inc. (NYSE:ALG)

ZWJ Investment Counsel Inc. purchased a new stake in Alamo Group Inc. (NYSE:ALG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,090 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in ALG. American Century Companies Inc. boosted its stake in Alamo Group by 50.5% in the 2nd quarter. American Century Companies Inc. now owns 7,512 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 2,521 shares during the period. Envestnet Asset Management Inc. boosted its stake in Alamo Group by 126.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,035 shares of the industrial products company’s stock valued at $3,466,000 after purchasing an additional 11,206 shares during the period. Renaissance Technologies LLC bought a new stake in Alamo Group in the 2nd quarter valued at $4,290,000. XTX Topco Ltd boosted its stake in Alamo Group by 57.6% in the 2nd quarter. XTX Topco Ltd now owns 3,194 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 1,167 shares during the period. Finally, Sei Investments Co. boosted its stake in Alamo Group by 34.9% in the 2nd quarter. Sei Investments Co. now owns 16,594 shares of the industrial products company’s stock valued at $2,872,000 after purchasing an additional 4,294 shares during the period. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Stock Performance

NYSE:ALG opened at $185.57 on Wednesday. The stock has a fifty day moving average price of $189.98 and a 200-day moving average price of $182.72. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 18.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40.

Alamo Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Thursday, January 16th will be given a dividend of $0.30 per share. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 16th. Alamo Group’s dividend payout ratio is currently 12.08%.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. This represents a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Janet S. Pollock sold 257 shares of the company’s stock in a transaction 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 sale, the vice president now owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird upped their target price on Alamo Group from $204.00 to $205.00 and gave the company 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.