Quest Partners LLC Increases Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Quest Partners LLC increased its holdings in Alamo Group Inc. (NYSE:ALG - Free Report) by 2,243.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,319 shares of the industrial products company's stock after purchasing an additional 5,092 shares during the quarter. Quest Partners LLC's holdings in Alamo Group were worth $958,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its holdings 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 worth $121,000 after acquiring an additional 63 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company's stock valued at $74,830,000 after purchasing an additional 28,786 shares during the period. GSA Capital Partners LLP bought a new position in Alamo Group in the 3rd quarter valued at $1,138,000. State of New Jersey Common Pension Fund D raised its position in shares of Alamo Group by 10.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 10,705 shares of the industrial products company's stock valued at $1,928,000 after buying an additional 971 shares in the last quarter. Finally, JNBA Financial Advisors purchased a new stake in shares of Alamo Group during the 3rd quarter valued at $37,000. Institutional investors own 92.36% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares of the company's stock, valued at $2,005,138.08. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward Rizzuti sold 276 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares in the company, 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. 1.40% of the stock is owned by company insiders.

Alamo Group Trading Up 2.3 %

Shares of ALG traded up $4.37 during midday trading on Thursday, hitting $196.11. The stock had a trading volume of 6,066 shares, compared to its average volume of 76,010. Alamo Group Inc. has a 1 year low of $163.74 and a 1 year high of $231.40. The firm has a market cap of $2.37 billion, a PE ratio of 19.32 and a beta of 1.08. 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's 50 day moving average is $180.98 and its 200 day moving average is $181.27.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group's dividend payout ratio (DPR) is presently 10.47%.

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.