Captrust Financial Advisors Cuts Stock Holdings in Alamo Group Inc. (NYSE:ALG)

Captrust Financial Advisors lowered its stake in shares of Alamo Group Inc. (NYSE:ALG) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,211 shares of the industrial products company’s stock after selling 232 shares during the period. Captrust Financial Advisors’ holdings in Alamo Group were worth $578,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ALG. SG Americas Securities LLC purchased a new position in Alamo Group during the second quarter worth approximately $1,230,000. Diversified Trust Co raised its stake in Alamo Group by 6.7% during the second quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 97 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Alamo Group during the second quarter worth approximately $252,000. Vaughan Nelson Investment Management L.P. raised its stake in Alamo Group by 16.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 372,938 shares of the industrial products company’s stock worth $64,518,000 after purchasing an additional 52,250 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Alamo Group by 174.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALG shares. Robert W. Baird raised 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 target price on shares of Alamo Group from $209.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th.

Alamo Group Stock Performance

Shares of ALG stock opened at $195.95 on Thursday. The company’s fifty day simple moving average is $186.55 and its 200-day simple moving average is $181.57. 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 company has a market cap of $2.36 billion, a PE ratio of 19.73 and a beta of 1.10.

Alamo Group Dividend Announcement

The company also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, October 15th. Alamo Group’s payout ratio is 10.47%.

Insider Activity at Alamo Group

In related news, EVP Edward Rizzuti sold 276 shares of the firm’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 directly owns 8,439 shares of the company’s stock, valued at approximately $1,653,031.32. This trade represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.