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

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

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

Alamo Group Trading Down 1.6 %

Shares of Alamo Group stock opened at $184.68 on Tuesday. The business has a fifty day simple moving average of $186.43 and a 200-day simple moving average of $183.43. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 18.60 and a beta of 1.10. The company has a quick ratio of 2.39, a current ratio of 4.15 and a debt-to-equity ratio of 0.21. Alamo Group has a fifty-two week low of $163.74 and a fifty-two week high of $228.88.

Insider Transactions at Alamo Group

In other Alamo Group news, VP Janet S. Pollock sold 257 shares of the business’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 sale, the vice president now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alamo Group

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group in the third quarter valued at $37,000. Smartleaf Asset Management LLC boosted its stake in shares of Alamo Group by 442.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 206 shares of the industrial products company’s stock worth $38,000 after buying an additional 168 shares during the period. KBC Group NV raised its position in shares of Alamo Group by 57.1% during the 4th quarter. KBC Group NV now owns 520 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 189 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of Alamo Group by 10.4% during the 3rd quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock worth $121,000 after buying an additional 63 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

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.