Commerce Bank Has $227,000 Position in Alamo Group Inc. (NYSE:ALG)

Commerce Bank reduced its stake in Alamo Group Inc. (NYSE:ALG) by 44.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the industrial products company’s stock after selling 1,004 shares during the period. Commerce Bank’s holdings in Alamo Group were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning boosted its position in Alamo Group by 33.2% during the 3rd quarter. Creative Planning now owns 2,004 shares of the industrial products company’s stock worth $361,000 after buying an additional 499 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Alamo Group by 16.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after buying an additional 52,250 shares during the period. Janus Henderson Group PLC boosted its position in Alamo Group by 42.4% during the 1st quarter. Janus Henderson Group PLC now owns 172,320 shares of the industrial products company’s stock worth $39,346,000 after buying an additional 51,292 shares during the period. Renaissance Technologies LLC acquired a new stake in Alamo Group during the 2nd quarter worth approximately $4,290,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Alamo Group by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 641,902 shares of the industrial products company’s stock worth $115,626,000 after buying an additional 45,422 shares during the period. 92.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. DA Davidson lifted their target price on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their price target on shares of 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 Performance

NYSE:ALG opened at $197.76 on Thursday. The company has a fifty day moving average of $182.96 and a 200-day moving average of $181.37. The firm has a market capitalization of $2.38 billion, a P/E ratio of 19.92 and a beta of 1.08. 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 Inc. has a twelve month low of $163.74 and a twelve month high of $231.40.

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 paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Alamo Group’s dividend payout ratio is currently 10.47%.

Insider Activity

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction on 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 owns 8,439 shares in the company, valued at approximately $1,653,031.32. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

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.