Alamo Group Inc. (NYSE:ALG) Shares Sold by Algert Global LLC

Algert Global LLC cut its holdings in shares of Alamo Group Inc. (NYSE:ALG - Free Report) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,561 shares of the industrial products company's stock after selling 3,293 shares during the period. Algert Global LLC owned approximately 0.18% of Alamo Group worth $3,884,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company's stock worth $32,000 after purchasing an additional 154 shares during the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group in the third quarter worth about $37,000. First Horizon Advisors Inc. boosted its position in Alamo Group by 174.7% in the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company's stock worth $43,000 after purchasing an additional 159 shares during the last quarter. Quarry LP purchased a new position in Alamo Group in the second quarter worth about $48,000. Finally, Bessemer Group Inc. boosted its position in Alamo Group by 1,885.7% in the first quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company's stock worth $63,000 after purchasing an additional 264 shares during the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Alamo Group from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. DA Davidson lifted their target price on Alamo Group from $209.00 to $219.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th.

Alamo Group Stock Down 1.0 %

ALG stock traded down $2.12 during trading on Tuesday, reaching $200.49. 44,597 shares of the company traded hands, compared to its average volume of 76,213. 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 Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 20.41 and a beta of 1.08. The business has a 50 day simple moving average of $182.27 and a 200 day simple moving average of $181.26.

Alamo Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Alamo Group's dividend payout ratio is currently 10.47%.

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the completion of the transaction, the executive vice president now owns 11,061 shares of the company's stock, valued at $2,005,138.08. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the completion of the transaction, the executive vice president now directly owns 8,439 shares of the company's stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% 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.