Alamo Group Inc. (NYSE:ALG) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Alamo Group Inc. (NYSE:ALG) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,851 shares of the industrial products company’s stock after buying an additional 3,102 shares during the quarter. Edgestream Partners L.P.’s holdings in Alamo Group were worth $6,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Alamo Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock worth $525,000 after buying an additional 63 shares in the last quarter. Huntington National Bank increased 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 acquiring an additional 63 shares during the period. Aurora Investment Counsel raised its holdings in Alamo Group by 1.5% during the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock worth $1,034,000 after purchasing an additional 85 shares in the last quarter. FORA Capital LLC lifted its position in Alamo Group by 6.7% in the third quarter. FORA Capital LLC now owns 1,397 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 88 shares during the period. Finally, Diversified Trust Co boosted its stake in Alamo Group by 6.7% during the 2nd quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson boosted their price objective on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird lifted their target price on Alamo Group from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Alamo Group Stock Up 1.0 %

ALG stock opened at $199.95 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of 20.14 and a beta of 1.08. Alamo Group Inc. has a 12 month low of $163.74 and a 12 month high of $231.40. 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 50 day simple moving average of $183.60 and a 200 day simple moving average of $181.51.

Alamo Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.26 per share. 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 0.52%. Alamo Group’s dividend payout ratio (DPR) is presently 10.47%.

Insider Transactions at Alamo Group

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were 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 directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This 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 available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Alamo Group 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.