Alamo Group (NYSE:ALG) Upgraded at StockNews.com

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

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

Alamo Group Stock Up 0.4 %

Alamo Group stock traded up $0.74 during mid-day trading on Tuesday, reaching $186.47. The stock had a trading volume of 82,801 shares, compared to its average volume of 96,589. Alamo Group has a one year low of $163.74 and a one year high of $228.88. The company has a 50-day moving average price of $184.75 and a two-hundred day moving average price of $183.80. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 18.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.15 and a quick ratio of 2.39.

Insider Buying and Selling

In related news, VP Janet S. Pollock sold 257 shares of Alamo Group stock in a transaction on Monday, December 16th. The stock was sold at an average price of $193.41, for a total transaction of $49,706.37. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alamo Group

Several large investors have recently added to or reduced their stakes in ALG. Creative Planning raised its position in shares of Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 499 shares during the period. Nisa Investment Advisors LLC increased its stake in Alamo Group by 700.0% in 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 in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Alamo Group by 152.5% during the third quarter. Harbor Capital Advisors Inc. now owns 46,449 shares of the industrial products company’s stock valued at $8,367,000 after acquiring an additional 28,054 shares during the period. JNBA Financial Advisors purchased a new position in shares of Alamo Group in the third quarter valued at about $37,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Alamo Group by 10.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 10,705 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 971 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

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.