Alamo Group Inc. (NYSE:ALG) Shares Bought by Huntington National Bank

Huntington National Bank boosted its holdings in shares of Alamo Group Inc. (NYSE:ALG) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 669 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Huntington National Bank’s holdings in Alamo Group were worth $121,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Alamo Group by 700.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. JNBA Financial Advisors purchased a new position in Alamo Group during the third quarter valued at $37,000. First Horizon Advisors Inc. lifted its holdings in Alamo Group by 174.7% during the second quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 159 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Alamo Group in the second quarter valued at about $48,000. Finally, Quarry LP purchased a new stake in shares of Alamo Group during the second quarter worth about $48,000. 92.36% of the stock is owned by institutional investors and hedge funds.

Alamo Group Stock Performance

NYSE:ALG opened at $194.31 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of 19.57 and a beta of 1.08. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $231.40. The company’s 50-day moving average price is $179.79 and its 200-day moving average price is $181.32. The company has a current ratio of 4.15, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s dividend payout ratio is currently 10.47%.

Wall Street Analyst Weigh In

ALG has been the topic of a number of research reports. Robert W. Baird raised their price target 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 lifted their price target on Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th.

Insider Activity

In other Alamo Group news, EVP Richard Hodges Raborn sold 300 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $181.28, for a total transaction of $54,384.00. Following the transaction, the executive vice president now owns 11,061 shares of the company’s stock, valued at approximately $2,005,138.08. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward Rizzuti sold 276 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 8,439 shares of the company’s stock, valued at $1,653,031.32. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.