Creative Planning Grows Position in Alamo Group Inc. (NYSE:ALG)

Creative Planning raised its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 33.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,004 shares of the industrial products company’s stock after buying an additional 499 shares during the period. Creative Planning’s holdings in Alamo Group were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALG. BNP Paribas Financial Markets lifted its position in Alamo Group by 9.4% during the first quarter. BNP Paribas Financial Markets now owns 9,016 shares of the industrial products company’s stock valued at $2,059,000 after buying an additional 774 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Alamo Group by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 9,041 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 117 shares in the last quarter. Tectonic Advisors LLC acquired a new position in Alamo Group during the first quarter valued at approximately $454,000. Susquehanna Fundamental Investments LLC acquired a new position in Alamo Group during the first quarter valued at approximately $1,590,000. Finally, Sei Investments Co. lifted its position in Alamo Group by 7.6% during the first quarter. Sei Investments Co. now owns 12,300 shares of the industrial products company’s stock valued at $2,808,000 after buying an additional 873 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALG shares. DA Davidson lifted their price target on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. StockNews.com cut shares of Alamo Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird boosted 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.

Alamo Group Trading Up 0.3 %

NYSE ALG opened at $197.48 on Friday. The company’s fifty day simple moving average is $177.83 and its 200-day simple moving average is $181.71. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.38 billion, a P/E ratio of 19.89 and a beta of 1.08.

Alamo Group Announces Dividend

The company also recently announced 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 0.53%. Alamo Group’s payout ratio is currently 10.47%.

Insider Transactions at Alamo Group

In other news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now directly owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Edward Rizzuti sold 322 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $178.29, for a total value of $57,409.38. Following the sale, the executive vice president now directly owns 7,765 shares of the company’s stock, valued at $1,384,421.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Hodges Raborn sold 300 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $181.28, for a total transaction of $54,384.00. Following the completion of the sale, the executive vice president now directly owns 11,061 shares in the company, valued at $2,005,138.08. This represents a 0.00 % 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.

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.