Alamo Group (NYSE:ALG) Stock Price Expected to Rise, Robert W. Baird Analyst Says

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

A number of other brokerages have also issued reports on ALG. DA Davidson upped their target price on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Alamo Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th.

Alamo Group Stock Down 2.2 %

Shares of NYSE ALG opened at $183.27 on Monday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 18.46 and a beta of 1.08. Alamo Group has a 1 year low of $163.74 and a 1 year high of $231.40. 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 stock’s 50-day simple moving average is $177.17 and its 200-day simple moving average is $181.60.

Alamo Group Dividend Announcement

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

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $178.29, for a total transaction of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alamo Group news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the sale, the executive vice president now owns 7,765 shares in the company, valued at $1,384,421.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares in the company, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Alamo Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in Alamo Group by 700.0% in 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 last quarter. JNBA Financial Advisors acquired a new position in shares of Alamo Group during the third quarter worth approximately $37,000. First Horizon Advisors Inc. grew its holdings in Alamo Group by 174.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after buying an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Alamo Group during the 2nd quarter valued at $48,000. Finally, Quarry LP bought a new stake in Alamo Group during the 2nd quarter valued at $48,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.