Alamo Group (NYSE:ALG) Stock Rating Lowered by StockNews.com

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

Separately, Robert W. Baird increased their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 4th.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $185.83 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 18.71 and a beta of 1.11. The business has a 50-day simple moving average of $188.68 and a two-hundred day simple moving average of $183.63. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $231.40.

Alamo Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 29th. Stockholders of record on Thursday, January 16th were paid a $0.30 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s dividend payout ratio (DPR) is 12.08%.

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the transaction, the vice president now directly owns 3,360 shares in the company, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Alamo Group

Several hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group in the third quarter worth about $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alamo Group during the second quarter worth approximately $48,000. Quarry LP purchased a new stake in Alamo Group during the second quarter valued at approximately $48,000. Finally, KBC Group NV lifted its stake in shares of Alamo Group by 57.1% in the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 189 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

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.