The Manufacturers Life Insurance Company Reduces Stock Position in Alamo Group Inc. (NYSE:ALG)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 42.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,900 shares of the industrial products company’s stock after selling 13,324 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Alamo Group worth $3,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALG. Charles Schwab Investment Management Inc. increased its stake in Alamo Group by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 134,379 shares of the industrial products company’s stock worth $24,206,000 after acquiring an additional 7,203 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Alamo Group during the 3rd quarter valued at approximately $484,000. Aurora Investment Counsel raised its holdings in Alamo Group by 1.5% during the 3rd quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 85 shares during the period. Quest Partners LLC lifted its position in Alamo Group by 2,243.2% in the third quarter. Quest Partners LLC now owns 5,319 shares of the industrial products company’s stock worth $958,000 after buying an additional 5,092 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Alamo Group by 10.4% during the third 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 period. Institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following the transaction, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ALG has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DA Davidson raised their price objective on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Stock Performance

Shares of Alamo Group stock opened at $196.09 on Friday. Alamo Group Inc. has a 52 week low of $163.74 and a 52 week high of $231.40. The company has a market capitalization of $2.36 billion, a PE ratio of 19.75 and a beta of 1.10. The stock’s fifty day moving average is $185.43 and its two-hundred day moving average is $181.49. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were issued 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 yield of 0.53%. Alamo Group’s payout ratio is 10.47%.

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.