Robert W. Baird Issues Positive Forecast for Alamo Group (NYSE:ALG) Stock Price

Alamo Group (NYSE:ALG) had its price objective upped by Robert W. Baird from $204.00 to $205.00 in a report published on Monday, Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on ALG. DA Davidson boosted their price target on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. StockNews.com downgraded Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

Alamo Group Stock Performance

NYSE ALG opened at $196.89 on Monday. The firm has a 50-day moving average price of $177.57 and a two-hundred day moving average price of $181.60. Alamo Group has a 12-month low of $163.74 and a 12-month high of $231.40. The company has a market capitalization of $2.37 billion, a P/E ratio of 19.83 and a beta of 1.08. 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 Announces Dividend

The company also recently declared 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 0.53%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Insider Buying and Selling

In other news, EVP Richard Hodges Raborn sold 300 shares of Alamo Group stock in a transaction 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 owns 11,061 shares in the company, valued at approximately $2,005,138.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $178.29, for a total transaction of $57,409.38. Following the completion of the transaction, the executive vice president now directly owns 7,765 shares in the company, valued at $1,384,421.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Hodges Raborn sold 300 shares of the firm’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 transaction of $54,384.00. Following the completion of the sale, the executive vice president now owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in Alamo Group by 700.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors acquired a new position in Alamo Group in the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its stake in shares of Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 159 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Alamo Group during the second quarter worth $48,000. Finally, Quarry LP bought a new stake in shares of Alamo Group in the second quarter worth $48,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.