Alamo Group (NYSE:ALG) Stock Rating Lowered by StockNews.com

Alamo Group (NYSE:ALG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Robert W. Baird upped their target price 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 Down 1.1 %

Shares of NYSE ALG opened at $188.34 on Thursday. The firm has a market cap of $2.27 billion, a PE ratio of 18.97 and a beta of 1.11. The company has a 50 day simple moving average of $189.16 and a 200 day simple moving average of $183.50. 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 has a 1 year low of $163.74 and a 1 year high of $231.40.

Insiders Place Their Bets

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, the vice president now owns 3,360 shares of the company’s stock, valued at $649,857.60. This represents a 7.11 % 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.

Hedge Funds Weigh In On Alamo Group

Several large investors have recently added to or reduced their stakes in ALG. Allspring Global Investments Holdings LLC lifted its position in shares of Alamo Group by 4.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 672,728 shares of the industrial products company’s stock worth $121,205,000 after buying an additional 30,826 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Alamo Group by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 415,424 shares of the industrial products company’s stock worth $74,830,000 after acquiring an additional 28,786 shares during the last quarter. State Street Corp raised its position in shares of Alamo Group by 2.6% in the third quarter. State Street Corp now owns 391,728 shares of the industrial products company’s stock valued at $70,562,000 after purchasing an additional 10,013 shares during the period. Geode Capital Management LLC lifted its position in shares of Alamo Group by 0.3% during the third quarter. Geode Capital Management LLC now owns 232,198 shares of the industrial products company’s stock worth $41,834,000 after acquiring an additional 670 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Alamo Group during the 3rd quarter worth about $35,759,000. 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.