Regal Investment Advisors LLC purchased a new stake in Alamo Group, Inc. (NYSE:ALG) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,437 shares of the industrial products company’s stock, valued at approximately $1,872,000. Regal Investment Advisors LLC owned 0.17% of Alamo Group as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Alamo Group by 54.7% in the second quarter. Victory Capital Management Inc. now owns 713,316 shares of the industrial products company’s stock worth $64,455,000 after purchasing an additional 252,089 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Alamo Group by 35.5% in the second quarter. Epoch Investment Partners Inc. now owns 242,268 shares of the industrial products company’s stock worth $21,892,000 after purchasing an additional 63,454 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Alamo Group in the second quarter worth $4,093,000. PNC Financial Services Group Inc. lifted its position in shares of Alamo Group by 17.4% in the second quarter. PNC Financial Services Group Inc. now owns 231,476 shares of the industrial products company’s stock worth $20,918,000 after purchasing an additional 34,390 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Alamo Group in the second quarter worth $3,071,000. Institutional investors own 92.35% of the company’s stock.
A number of brokerages have recently commented on ALG. ValuEngine lowered shares of Alamo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Sidoti raised shares of Alamo Group from a “neutral” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of Alamo Group from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Tuesday, August 7th.
Alamo Group (NYSE:ALG) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $1.75 earnings per share for the quarter, meeting the consensus estimate of $1.75. The business had revenue of $257.57 million during the quarter. Alamo Group had a return on equity of 13.85% and a net margin of 6.04%.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Monday, October 15th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, October 12th. Alamo Group’s dividend payout ratio is presently 9.50%.
In other Alamo Group news, VP Richard J. Wehrle sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $95.05, for a total transaction of $570,300.00. Following the completion of the transaction, the vice president now owns 16,404 shares in the company, valued at approximately $1,559,200.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.48% of the company’s stock.
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About Alamo Group
Alamo Group Inc designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. It operates in three segments: Industrial, Agricultural, and European. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; cutters for heavy-duty and intensive use applications; and heavy duty tractors-and truck-mounted mowing, and vegetation maintenance equipment and parts.
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