Alamo Group Inc. (NYSE:ALG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in Alamo Group Inc. (NYSE:ALG) by 5.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,145 shares of the industrial products company’s stock after selling 460 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Alamo Group were worth $1,467,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Alamo Group by 1.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,703 shares of the industrial products company’s stock worth $7,696,000 after buying an additional 489 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Alamo Group by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 18,395 shares of the industrial products company’s stock valued at $3,182,000 after acquiring an additional 13,469 shares in the last quarter. SG Americas Securities LLC acquired a new position in Alamo Group in the 2nd quarter worth approximately $1,230,000. Diversified Trust Co grew its position in Alamo Group by 6.7% during the 2nd quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 97 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Alamo Group in the second quarter valued at $252,000. Institutional investors own 92.36% of the company’s stock.

Alamo Group Stock Up 1.0 %

ALG stock opened at $199.95 on Friday. The company has a 50 day moving average of $183.60 and a two-hundred day moving average of $181.39. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 20.14 and a beta of 1.08. Alamo Group Inc. has a 12-month low of $163.74 and a 12-month high of $231.40. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21.

Alamo Group Dividend Announcement

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

Insider Activity at Alamo Group

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 value of $54,062.88. Following the completion of the sale, the executive vice president now directly owns 8,439 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. DA Davidson lifted their price target on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird lifted their target price on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Company 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.