Alamo Group (NYSE:ALG) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Robert W. Baird lifted their price target on 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 Stock Performance

Shares of ALG opened at $185.23 on Tuesday. The stock has a 50-day moving average of $186.11 and a two-hundred day moving average of $183.44. Alamo Group has a one year low of $163.74 and a one year high of $228.88. 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 has a market cap of $2.23 billion, a P/E ratio of 18.65 and a beta of 1.10.

Alamo Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Thursday, January 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a yield of 0.65%. This is a boost from Alamo Group’s previous quarterly dividend of $0.26. Alamo Group’s payout ratio is currently 12.08%.

Insider Activity

In other news, VP Janet S. Pollock sold 257 shares of the business’s stock in a transaction dated 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 owns 3,360 shares of the company’s stock, valued at $649,857.60. The trade was a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Alamo Group by 700.0% in the 3rd 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 in the last quarter. JNBA Financial Advisors purchased a new position in shares of Alamo Group in the 3rd quarter valued at about $37,000. Smartleaf Asset Management LLC increased its stake in shares of Alamo Group by 442.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 168 shares in the last quarter. KBC Group NV increased 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 in the last quarter. Finally, Huntington National Bank increased its stake in shares of Alamo Group by 10.4% in the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds 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.