Cerity Partners LLC lessened its stake in Alamo Group Inc. (NYSE:ALG - Free Report) by 67.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,462 shares of the industrial products company's stock after selling 39,740 shares during the quarter. Cerity Partners LLC owned approximately 0.16% of Alamo Group worth $3,506,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $115,626,000 after acquiring an additional 45,422 shares during the last quarter. Victory Capital Management Inc. boosted its stake in 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 purchasing an additional 28,786 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Alamo Group by 16.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company's stock worth $64,518,000 after purchasing an additional 52,250 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Alamo Group by 17.1% during the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company's stock worth $59,635,000 after buying an additional 50,327 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alamo Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 134,379 shares of the industrial products company's stock valued at $24,206,000 after buying an additional 7,203 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. DA Davidson upped their price target on Alamo Group from $209.00 to $219.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th.
Get Our Latest Report on ALG
Alamo Group Trading Up 1.0 %
Shares of ALG stock traded up $2.06 on Friday, hitting $199.95. 44,094 shares of the stock traded hands, compared to its average volume of 76,264. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $231.40. The stock has a market capitalization of $2.41 billion, a PE ratio of 20.14 and a beta of 1.08. The firm's 50-day moving average price is $183.60 and its two-hundred day moving average price is $181.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.
Alamo Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group's dividend payout ratio is presently 10.47%.
Insiders Place Their Bets
In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares of the company's stock, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
Alamo Group Company Profile
(
Free Report)
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.
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