Alamo Group (NYSE:ALG) Price Target Raised to $205.00 at Robert W. Baird

Alamo Group (NYSE:ALG) had its target price increased by Robert W. Baird from $204.00 to $205.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other analysts have also recently commented on ALG. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. DA Davidson lifted their price objective on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Alamo Group Stock Performance

Shares of NYSE ALG opened at $183.27 on Monday. The company has a 50-day simple moving average of $177.17 and a 200-day simple moving average of $181.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The company has a market cap of $2.21 billion, a PE ratio of 18.46 and a beta of 1.08. Alamo Group has a 12 month low of $163.74 and a 12 month high of $231.40.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Alamo Group’s payout ratio is 10.47%.

Insiders Place Their Bets

In other news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at $2,005,138.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Richard Hodges Raborn sold 300 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now owns 7,765 shares of the company’s stock, valued at $1,384,421.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 154 shares during the period. JNBA Financial Advisors acquired a new stake in shares of Alamo Group in the third quarter valued at about $37,000. First Horizon Advisors Inc. raised its holdings in shares of Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after buying an additional 159 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group during the 2nd quarter worth approximately $48,000. Finally, Quarry LP acquired a new stake in Alamo Group in the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Company 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.