Handelsbanken Fonder AB Reduces Holdings in Alamo Group Inc.

Handelsbanken Fonder AB has reduced its stake in Alamo Group Inc. (NYSE:ALG) by 13.8% during the fourth quarter, as noted in their latest filing with the Securities and Exchange Commission. After selling 11,179 shares during the quarter, the fund now holds 70,000 shares of this industrial products company. This represents approximately 0.58% ownership in Alamo Group, which is valued at around $13,014,000 based on their most recent disclosures.

Other major investors have also adjusted their positions in Alamo Group. For instance, Principal Financial Group Inc. increased its holdings by 4.0% in the fourth quarter, acquiring an additional 2,200 shares to hold a total of 56,936 shares, valued at approximately $10,585,000. Similarly, the State of New Jersey Common Pension Fund D raised its stake in Alamo Group by 2.8%, now owning 11,008 shares valued at $2,046,000 after purchasing 303 more shares. Rhumbline Advisers also increased its position by 2.5%, bringing their total to 33,166 shares, worth $6,166,000 at the time. Additionally, Legato Capital Management LLC initiated a new stake in Alamo Group, estimated to be around $1,842,000. Furthermore, Allspring Global Investments Holdings LLC raised its stake by 4.8%, owning 672,728 shares valued at approximately $121,205,000 after acquiring 30,826 additional shares. Altogether, these institutional investors and hedge funds own about 92.36% of Alamo Group's stock.

Changes in Analyst Ratings

Recently, several analysts have updated their ratings on Alamo Group. StockNews.com downgraded the stock from a 'buy' rating to a 'hold' rating in a research note released on February 11. Conversely, Robert W. Baird increased their target price for Alamo Group shares from $204.00 to $205.00 and maintained an 'outperform' rating in a report published on November 4 of the previous year.

Insider Activity at Alamo Group

In company news, Vice President Janet S. Pollock sold 257 shares of Alamo Group’s stock on December 16, realizing an average sale price of $193.41, resulting in a transaction worth $49,706.37. Following this sale, Pollock holds 3,360 shares in Alamo Group valued at about $649,857.60, which marks a 7.11% decrease in her overall position. This transaction was duly reported in a filing with the SEC.

Alamo Group Stock Performance

On the New York Stock Exchange, Alamo Group shares opened at $188.54. The company's market capitalization stands at $2.27 billion, with a price-to-earnings ratio of 18.99 and a beta of 1.10. Key financial ratios reveal a current ratio of 4.15, a quick ratio of 2.39, and a low debt-to-equity ratio of 0.21. The company's 50-day moving average is $185.04, while the 200-day moving average is $183.43, with the stock recording a 12-month low of $163.74 and a high of $228.88.

Dividend Announcement by Alamo Group

Recently, Alamo Group announced a quarterly dividend that was paid out on January 29. Shareholders on record as of January 16 received a dividend of $0.30 per share, which translates to an annualized dividend of $1.20, offering a yield of 0.64%. This marks an increase from the previous dividend of $0.26. The ex-dividend date was also January 16, and the company has a dividend payout ratio of 12.08%.

About Alamo Group

Alamo Group Inc specializes in designing, manufacturing, distributing, and servicing vegetation management and infrastructure maintenance equipment intended for governmental, industrial, and agricultural markets worldwide. It operates primarily through two divisions: Vegetation Management and Industrial Equipment. The Vegetation Management Division focuses on hydraulic and tractor-mounted mowers, various types of cutters, and replacement parts, catering to heavy-duty and intensive use.

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