Pitcairn Co. Has $335,000 Holdings in Alamo Group Inc. (NYSE:ALG)

Pitcairn Co. trimmed its position in Alamo Group Inc. (NYSE:ALG) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,860 shares of the industrial products company’s stock after selling 74 shares during the quarter. Pitcairn Co.’s holdings in Alamo Group were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALG. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alamo Group by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,379 shares of the industrial products company’s stock worth $24,206,000 after acquiring an additional 7,203 shares during the period. Intech Investment Management LLC acquired a new position in Alamo Group in the third quarter worth about $484,000. Aurora Investment Counsel lifted its stake in Alamo Group by 1.5% during the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 85 shares during the period. Quest Partners LLC boosted its holdings in Alamo Group by 2,243.2% during the third quarter. Quest Partners LLC now owns 5,319 shares of the industrial products company’s stock valued at $958,000 after purchasing an additional 5,092 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Alamo Group by 10.4% in the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 63 shares during the period. 92.36% of the stock is owned by institutional investors.

Insider Transactions at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of Alamo Group stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value 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 $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 SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALG shares. 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. Robert W. Baird lifted their price objective on Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, November 4th.

Alamo Group Stock Performance

NYSE ALG opened at $197.75 on Wednesday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 19.91 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. Alamo Group Inc. has a 1-year low of $163.74 and a 1-year high of $231.40. The company has a 50 day moving average of $182.64 and a 200-day moving average of $181.26.

Alamo Group Dividend Announcement

The firm also recently disclosed 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 0.53%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 10.47%.

Alamo Group 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.