Alamo Group (NYSE:ALG) Upgraded at StockNews.com

StockNews.com upgraded shares of Alamo Group (NYSE:ALG) from a hold rating to a buy rating in a research report released on Wednesday morning.

Separately, Robert W. Baird lifted 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.

Alamo Group Stock Performance

Alamo Group stock opened at $185.40 on Wednesday. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $231.40. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.67 and a beta of 1.11. The stock has a fifty day moving average of $189.43 and a two-hundred day moving average of $182.87. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Thursday, January 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, January 16th. This is an increase from Alamo Group’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 0.65%. Alamo Group’s dividend payout ratio is 12.08%.

Insider Buying and Selling at Alamo Group

In other news, VP Janet S. Pollock sold 257 shares of the company’s 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 completion of the sale, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. This represents a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Edward Rizzuti sold 276 shares of Alamo Group 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 completion of the transaction, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. The trade was 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALG. American Century Companies Inc. increased its holdings in Alamo Group by 50.5% in the 2nd quarter. American Century Companies Inc. now owns 7,512 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 2,521 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Alamo Group by 126.9% in the second quarter. Envestnet Asset Management Inc. now owns 20,035 shares of the industrial products company’s stock worth $3,466,000 after buying an additional 11,206 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Alamo Group in the second quarter valued at about $4,290,000. Sei Investments Co. raised its holdings in shares of Alamo Group by 34.9% during the 2nd quarter. Sei Investments Co. now owns 16,594 shares of the industrial products company’s stock valued at $2,872,000 after buying an additional 4,294 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in Alamo Group by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 22,762 shares of the industrial products company’s stock worth $3,938,000 after acquiring an additional 1,579 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.