Alamo Group Inc. (NYSE:ALG) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its position in shares of Alamo Group Inc. (NYSE:ALG) by 67.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,462 shares of the industrial products company’s stock after selling 39,740 shares during the period. Cerity Partners LLC owned 0.16% of Alamo Group worth $3,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in Alamo Group by 700.0% during the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 154 shares during the last quarter. JNBA Financial Advisors acquired a new stake in shares of Alamo Group during the third quarter worth $37,000. First Horizon Advisors Inc. grew its position in shares of Alamo Group by 174.7% in the second 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 during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Alamo Group in the second quarter valued at $48,000. Finally, Quarry LP purchased a new position in Alamo Group during the second quarter worth about $48,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the business’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 $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Alamo Group Price Performance

ALG stock opened at $199.95 on Friday. The company has a market cap of $2.41 billion, a PE ratio of 20.14 and a beta of 1.08. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $183.60 and a two-hundred day moving average price of $181.51. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $231.40.

Alamo Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALG shares. Robert W. Baird upped their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DA Davidson upped their price target 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.

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.