Alamo Group (NYSE:ALG) Raised to Buy at StockNews.com

Alamo Group (NYSE:ALG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

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

Alamo Group Trading Down 0.7 %

Shares of NYSE:ALG traded down $1.28 during mid-day trading on Wednesday, reaching $183.86. The stock had a trading volume of 63,953 shares, compared to its average volume of 115,789. The firm has a market cap of $2.22 billion, a PE ratio of 18.52 and a beta of 1.11. The firm has a 50 day simple moving average of $189.85 and a two-hundred day simple moving average of $182.86. 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 has a twelve month low of $163.74 and a twelve month high of $231.40.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at approximately $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The sale 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 Alamo Group stock in a transaction on Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the sale, the vice president now owns 3,360 shares in the company, valued at $649,857.60. The trade was 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 owned by company insiders.

Institutional Investors Weigh In On Alamo Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Alamo Group by 7.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares during the last quarter. Victory Capital Management Inc. boosted its stake 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 acquiring an additional 28,786 shares during the period. State Street Corp increased its holdings in shares of Alamo Group by 2.6% during the 3rd quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock worth $70,562,000 after acquiring an additional 10,013 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alamo Group by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock valued at $41,834,000 after purchasing an additional 670 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Alamo Group during the third quarter worth $35,759,000. 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.