Algert Global LLC Sells 3,293 Shares of Alamo Group Inc. (NYSE:ALG)

Algert Global LLC lowered its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 13.2% in the third quarter, HoldingsChannel reports. The firm owned 21,561 shares of the industrial products company’s stock after selling 3,293 shares during the period. Algert Global LLC’s holdings in Alamo Group were worth $3,884,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Alamo Group by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Alamo Group by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after buying an additional 28,786 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after buying an additional 52,250 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Alamo Group by 17.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after acquiring an additional 50,327 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Alamo Group by 42.4% during the first quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after acquiring an additional 51,292 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In other news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Alamo Group Stock Up 2.3 %

Shares of ALG opened at $202.72 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The firm’s 50 day moving average is $182.27 and its 200-day moving average is $181.26. The stock has a market capitalization of $2.44 billion, a PE ratio of 20.41 and a beta of 1.08.

Alamo Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.26 per share. 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 0.51%. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Wall Street Analysts Forecast Growth

ALG has been the topic of several research reports. 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. DA Davidson increased their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th.

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.