Commerce Bank Sells 1,004 Shares of Alamo Group Inc. (NYSE:ALG)

Commerce Bank lessened its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 44.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the industrial products company’s stock after selling 1,004 shares during the quarter. Commerce Bank’s holdings in Alamo Group were worth $227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group during the 3rd quarter worth $37,000. First Horizon Advisors Inc. boosted its holdings in Alamo Group by 174.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 159 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Alamo Group during the 2nd quarter worth $48,000. Finally, Quarry LP purchased a new position in Alamo Group during the 2nd quarter worth $48,000. Institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 276 shares of the business’s 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 sale, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALG shares. Robert W. Baird lifted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. DA Davidson boosted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th.

Alamo Group Price Performance

Shares of NYSE:ALG opened at $197.76 on Thursday. The company’s 50-day moving average is $182.96 and its 200 day moving average is $181.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The company has a market capitalization of $2.38 billion, a P/E ratio of 19.92 and a beta of 1.08. Alamo Group Inc. has a fifty-two week low of $163.74 and a fifty-two week high of $231.40.

Alamo Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued a $0.26 dividend. 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 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.