Alamo Group (NYSE:ALG) Sees Large Volume Increase – Time to Buy?

Shares of Alamo Group Inc. (NYSE:ALG) saw unusually-strong trading volume on Tuesday . Approximately 102,667 shares were traded during mid-day trading, an increase of 31% from the previous session’s volume of 78,359 shares.The stock last traded at $187.13 and had previously closed at $186.54.

Analyst Ratings Changes

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

Alamo Group Stock Performance

The firm has a market cap of $2.27 billion, a PE ratio of 18.96 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $189.39 and a two-hundred day simple moving average of $181.79.

Alamo Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s payout ratio is 10.47%.

Insider Transactions at Alamo Group

In related news, VP Janet S. Pollock sold 257 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total value of $49,706.37. Following the completion of the sale, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward Rizzuti sold 276 shares of the stock in a transaction dated 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. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alamo Group

A number of hedge funds have recently added to or reduced their stakes in ALG. Wellington Management Group LLP purchased a new position in Alamo Group during the third quarter valued at $35,759,000. Assenagon Asset Management S.A. raised its stake in Alamo Group by 1,486.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after acquiring an additional 66,698 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Alamo Group by 17.1% during the second quarter. Westwood Holdings Group Inc. now owns 344,713 shares of the industrial products company’s stock valued at $59,635,000 after purchasing an additional 50,327 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock valued at $115,626,000 after purchasing an additional 45,422 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Alamo Group by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 386,638 shares of the industrial products company’s stock valued at $66,888,000 after buying an additional 33,190 shares in the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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.