StockNews.com Downgrades Alamo Group (NYSE:ALG) to Hold

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

Separately, Robert W. Baird lifted their price objective on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

Alamo Group Price Performance

ALG opened at $185.86 on Tuesday. The company has a fifty day moving average price of $187.00 and a two-hundred day moving average price of $183.52. The firm has a market capitalization of $2.24 billion, a PE ratio of 18.72 and a beta of 1.10. Alamo Group has a 52 week low of $163.74 and a 52 week high of $231.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15.

Insider Buying and Selling at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the stock in a transaction dated 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 directly owns 3,360 shares in the company, valued at $649,857.60. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Alamo Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in shares of Alamo Group in the 3rd quarter valued at about $35,759,000. Assenagon Asset Management S.A. grew its holdings in shares of Alamo Group by 1,486.1% during the third quarter. Assenagon Asset Management S.A. now owns 71,186 shares of the industrial products company’s stock worth $12,823,000 after buying an additional 66,698 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Alamo Group by 7.6% in 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 buying an additional 45,422 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Alamo Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 448,718 shares of the industrial products company’s stock valued at $83,421,000 after acquiring an additional 33,294 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Alamo Group by 152.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock worth $8,367,000 after acquiring an additional 28,054 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

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.