Algert Global LLC Sells 3,293 Shares of Alamo Group Inc. (NYSE:ALG)

Algert Global LLC lowered its stake in Alamo Group Inc. (NYSE:ALG) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,561 shares of the industrial products company’s stock after selling 3,293 shares during the quarter. Algert Global LLC owned about 0.18% of Alamo Group worth $3,884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALG. Creative Planning increased its stake in Alamo Group by 33.2% in the third quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 499 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Alamo Group by 16.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock valued at $64,518,000 after buying an additional 52,250 shares during the period. Janus Henderson Group PLC increased its position in shares of Alamo Group by 42.4% in the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock valued at $39,346,000 after buying an additional 51,292 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Alamo Group during the 2nd quarter worth $4,290,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $115,626,000 after acquiring an additional 45,422 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction 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 represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total value of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $202.72 on Tuesday. 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 firm has a market cap of $2.44 billion, a price-to-earnings ratio of 20.41 and a beta of 1.08. Alamo Group Inc. has a one year low of $163.74 and a one year high of $231.40. The stock’s 50-day moving average is $182.27 and its 200-day moving average is $181.26.

Alamo Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Alamo Group’s dividend payout ratio is currently 10.47%.

Wall Street Analysts Forecast Growth

ALG has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. DA Davidson upped their price target on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, August 28th.

Alamo Group 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.