Alamo Group (NYSE:ALG) Downgraded to "Hold" Rating by StockNews.com

Alamo Group (NYSE:ALG - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday.

Separately, Robert W. Baird boosted their target price on Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, November 4th.

Alamo Group Price Performance

Shares of ALG traded up $0.44 during midday trading on Thursday, reaching $188.20. The stock had a trading volume of 71,175 shares, compared to its average volume of 103,472. The company's 50-day moving average is $189.09 and its 200 day moving average is $183.53. Alamo Group has a 12-month low of $163.74 and a 12-month high of $231.40. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 18.95 and a beta of 1.11.

Insider Buying and Selling

In other news, VP Janet S. Pollock sold 257 shares of the stock in a transaction 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 transaction, the vice president now directly owns 3,360 shares of the company's stock, valued at $649,857.60. This represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares in the company, valued at $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alamo Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Alamo Group by 126.9% during the second quarter. Envestnet Asset Management Inc. now owns 20,035 shares of the industrial products company's stock valued at $3,466,000 after purchasing an additional 11,206 shares in the last quarter. Sei Investments Co. grew its position in shares of Alamo Group by 34.9% during the second quarter. Sei Investments Co. now owns 16,594 shares of the industrial products company's stock valued at $2,872,000 after purchasing an additional 4,294 shares in the last quarter. Bank of Montreal Can grew its position in shares of Alamo Group by 8.6% during the second quarter. Bank of Montreal Can now owns 2,204 shares of the industrial products company's stock valued at $400,000 after purchasing an additional 175 shares in the last quarter. Marshall Wace LLP grew its position in shares of Alamo Group by 94.1% during the second quarter. Marshall Wace LLP now owns 3,904 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Alamo Group during the second quarter valued at about $643,000. 92.36% of the stock is owned by institutional investors.

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.