Alamo Group (NYSE:ALG) Sees Large Volume Increase – Still a Buy?

Alamo Group Inc. (NYSE:ALG) shares saw strong trading volume on Tuesday . Approximately 102,667 shares were traded during 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.

Analysts Set New Price Targets

ALG has been the topic of a number of analyst reports. DA Davidson raised their price target on Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird boosted 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 Price Performance

The stock’s fifty day moving average price is $189.39 and its 200-day moving average price is $181.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 18.96 and a beta of 1.10.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. Alamo Group’s payout ratio is presently 10.47%.

Insider Activity

In other news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total transaction of $54,062.88. Following the completion of the sale, the executive vice president now owns 8,439 shares in the company, valued at $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Janet S. Pollock sold 257 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 3,360 shares in the company, valued at $649,857.60. This trade represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in Alamo Group by 3.8% during the 3rd quarter. Tidal Investments LLC now owns 3,093 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 113 shares during the period. Virtu Financial LLC bought a new position in Alamo Group in the 3rd quarter valued at about $273,000. Geode Capital Management LLC lifted its holdings in shares of Alamo Group by 0.3% during the 3rd 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 during the period. Barclays PLC lifted its stake in Alamo Group by 204.7% during the third quarter. Barclays PLC now owns 22,417 shares of the industrial products company’s stock worth $4,039,000 after purchasing an additional 15,061 shares during the last quarter. Finally, First National Bank of Omaha boosted its holdings in shares of Alamo Group by 6.6% in the 3rd quarter. First National Bank of Omaha now owns 2,988 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 184 shares in the last quarter. 92.36% of the stock is 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.