Martingale Asset Management L P Cuts Stock Position in Alamo Group Inc. (NYSE:ALG)

Martingale Asset Management L P lowered its position in Alamo Group Inc. (NYSE:ALGGet Rating) by 26.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,500 shares of the industrial products company’s stock after selling 900 shares during the quarter. Martingale Asset Management L P’s holdings in Alamo Group were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pinebridge Investments L.P. purchased a new stake in Alamo Group during the 2nd quarter worth approximately $27,000. KBC Group NV purchased a new stake in Alamo Group during the 2nd quarter worth approximately $92,000. Captrust Financial Advisors grew its position in Alamo Group by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 964 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 223 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Alamo Group by 16.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 1,666 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 240 shares during the last quarter. Finally, Dakota Wealth Management purchased a new stake in Alamo Group during the 2nd quarter worth approximately $204,000. Hedge funds and other institutional investors own 92.79% of the company’s stock.

Alamo Group Stock Performance

Shares of NYSE ALG opened at $149.78 on Thursday. The company has a current ratio of 3.89, a quick ratio of 2.01 and a debt-to-equity ratio of 0.47. Alamo Group Inc. has a 12 month low of $108.35 and a 12 month high of $160.71. The company has a 50 day simple moving average of $139.76 and a two-hundred day simple moving average of $128.58. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 19.40 and a beta of 1.02.

Alamo Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, October 17th. Alamo Group’s dividend payout ratio is currently 9.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALG. DA Davidson boosted their target price on shares of Alamo Group from $136.00 to $156.00 in a research report on Monday, November 7th. TheStreet upgraded shares of Alamo Group from a “c+” rating to a “b-” rating in a research note on Thursday, August 25th. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. Finally, EF Hutton Acquisition Co. I assumed coverage on shares of Alamo Group in a research note on Wednesday, October 19th. They set a “buy” rating and a $195.00 price objective for the company.

About Alamo Group

(Get Rating)

Alamo Group Inc designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. Its Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.

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Institutional Ownership by Quarter for Alamo Group (NYSE:ALG)

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