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

StockNews.com downgraded shares of Alamo Group (NYSE:ALG) from a buy rating to a hold rating in a report published on Tuesday morning.

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

Alamo Group Stock Up 0.2 %

ALG stock opened at $185.23 on Tuesday. Alamo Group has a 1-year low of $163.74 and a 1-year high of $228.88. The business has a fifty day moving average price of $186.11 and a 200-day moving average price of $183.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The stock has a market capitalization of $2.23 billion, a P/E ratio of 18.65 and a beta of 1.10.

Alamo Group Increases Dividend

The firm 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. This is a positive change from Alamo Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. Alamo Group’s dividend payout ratio is 12.08%.

Insider Transactions at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the transaction, the vice president now directly owns 3,360 shares of the company’s stock, valued at approximately $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC grew its stake in Alamo Group by 2.2% during the 4th quarter. Cornerstone Investment Partners LLC now owns 2,606 shares of the industrial products company’s stock worth $484,000 after buying an additional 56 shares during the last quarter. Huntington National Bank grew its stake in Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after buying an additional 63 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Alamo Group by 6.9% during the 4th quarter. Ameritas Investment Partners Inc. now owns 1,072 shares of the industrial products company’s stock worth $199,000 after buying an additional 69 shares during the last quarter. Aurora Investment Counsel grew its stake in Alamo Group by 1.5% during the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock worth $1,034,000 after buying an additional 85 shares during the last quarter. Finally, FORA Capital LLC grew its stake in Alamo Group by 6.7% during the 3rd quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock worth $252,000 after buying an additional 88 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

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.