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

Shares of Alamo Group Inc. (NYSE:ALG) saw an uptick in trading volume on Tuesday . 102,667 shares changed hands 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.

Wall Street Analyst Weigh In

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

Alamo Group Stock Up 0.9 %

The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 18.96 and a beta of 1.10. The firm’s fifty day moving average price is $189.67 and its two-hundred day moving average price is $181.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Alamo Group Announces Dividend

The company 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. The ex-dividend date was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.55%. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Insider Activity

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the completion of the transaction, the vice president now owns 3,360 shares in the company, valued at approximately $649,857.60. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALG. Arizona State Retirement System lifted its stake in Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 63 shares in the last quarter. Huntington National Bank boosted its holdings in Alamo Group by 10.4% during the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 63 shares during the last quarter. Aurora Investment Counsel grew its position in Alamo Group by 1.5% in the 3rd 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 in the last quarter. FORA Capital LLC increased its stake in Alamo Group by 6.7% in the 3rd quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock valued at $252,000 after buying an additional 88 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Alamo Group by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock worth $900,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.