StockNews.com Upgrades Alamo Group (NYSE:ALG) to “Buy”

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

Separately, Robert W. Baird lifted their price target on shares of 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 Stock Performance

Shares of NYSE:ALG traded down $1.28 on Wednesday, hitting $183.86. 63,953 shares of the company were exchanged, compared to its average volume of 115,789. 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’s 50 day moving average price is $189.85 and its two-hundred day moving average price is $182.86. Alamo Group has a one year low of $163.74 and a one year high of $231.40. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 18.52 and a beta of 1.11.

Insiders Place Their Bets

In other news, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,439 shares in the company, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 value of $49,706.37. Following the completion of the transaction, the vice president now directly 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

A number of institutional investors have recently modified their holdings of the stock. Huntington National Bank grew its stake in shares of Alamo Group by 10.4% during the third 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 last quarter. Aurora Investment Counsel increased its stake in shares of Alamo Group by 1.5% in the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 85 shares during the period. FORA Capital LLC raised its position in shares of Alamo Group by 6.7% during the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock worth $252,000 after acquiring an additional 88 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Alamo Group by 3.8% during the third quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock valued at $557,000 after acquiring an additional 113 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Alamo Group by 700.0% in the third quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 154 shares during the last quarter. 92.36% of the stock is owned by institutional investors.

About Alamo Group

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.