Alamo Group (NYSE:ALG) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Separately, Robert W. Baird upped their price target 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 Stock Performance

Shares of ALG stock opened at $188.20 on Thursday. Alamo Group has a 52-week low of $163.74 and a 52-week high of $231.40. The stock’s 50-day moving average price is $189.09 and its 200 day moving average price is $183.53. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.27 billion, a PE ratio of 18.95 and a beta of 1.11.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Investors of record on Thursday, January 16th were issued a dividend of $0.30 per share. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, January 16th. Alamo Group’s dividend payout ratio is currently 12.08%.

Insider Activity at Alamo Group

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 transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Alamo Group

A number of large investors have recently made changes to their positions in ALG. Wellington Management Group LLP purchased a new stake in Alamo Group during the third quarter worth about $35,759,000. Assenagon Asset Management S.A. lifted its position in shares of Alamo Group by 1,486.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock valued at $12,823,000 after acquiring an additional 66,698 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 acquiring an additional 45,422 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after acquiring an additional 28,786 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Alamo Group by 152.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock valued at $8,367,000 after purchasing an additional 28,054 shares in the last quarter. Hedge funds and other institutional investors own 92.36% 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.