State of Alaska Department of Revenue Sells 166 Shares of Alamo Group Inc. (NYSE:ALG)

State of Alaska Department of Revenue cut its stake in shares of Alamo Group Inc. (NYSE:ALG) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,920 shares of the industrial products company’s stock after selling 166 shares during the period. State of Alaska Department of Revenue’s holdings in Alamo Group were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ALG. First Horizon Advisors Inc. increased its stake in Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Alamo Group during the second quarter valued at approximately $48,000. Quarry LP purchased a new position in Alamo Group in the 2nd quarter worth approximately $48,000. nVerses Capital LLC bought a new position in Alamo Group in the 2nd quarter valued at approximately $52,000. Finally, Bessemer Group Inc. boosted its stake in Alamo Group by 1,885.7% during the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 264 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.

Alamo Group Price Performance

NYSE ALG opened at $183.27 on Tuesday. The business’s fifty day moving average is $177.17 and its 200 day moving average is $181.60. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.52 and a current ratio of 4.37. The company has a market capitalization of $2.21 billion, a PE ratio of 18.46 and a beta of 1.08.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s dividend payout ratio is 10.47%.

Insiders Place Their Bets

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 directly owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Edward Rizzuti sold 322 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $178.29, for a total value of $57,409.38. Following the transaction, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at approximately $1,384,421.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the company’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 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, DA Davidson boosted their target price on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

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.