Insider Selling: Alamo Group Inc. (NYSE:ALG) EVP Sells $72,578.74 in Stock

Alamo Group Inc. (NYSE:ALG – Get Rating) EVP Edward Rizzuti sold 394 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $184.21, for a total transaction of $72,578.74. Following the transaction, the executive vice president now owns 5,433 shares of the company’s stock, valued at approximately $1,000,812.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alamo Group Price Performance

Alamo Group stock opened at $173.86 on Monday. The firm has a 50-day moving average price of $160.11 and a 200-day moving average price of $147.01. The firm has a market capitalization of $2.08 billion, a PE ratio of 20.36 and a beta of 0.98. The company has a current ratio of 3.82, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Alamo Group Inc. has a 12-month low of $108.35 and a 12-month high of $186.37.

Alamo Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, January 17th. This is a positive change from Alamo Group’s previous quarterly dividend of $0.18. Alamo Group’s dividend payout ratio (DPR) is 10.30%.

Institutional Investors Weigh In On Alamo Group

Institutional investors have recently made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of Alamo Group by 11.8% in the 2nd quarter. Inspire Investing LLC now owns 1,825 shares of the industrial products company’s stock worth $212,000 after acquiring an additional 192 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Alamo Group during the 3rd quarter valued at about $44,000. Teacher Retirement System of Texas lifted its holdings in Alamo Group by 198.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 34,917 shares of the industrial products company’s stock valued at $4,269,000 after buying an additional 23,229 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in Alamo Group by 7.5% during the 3rd quarter. Granite Investment Partners LLC now owns 169,875 shares of the industrial products company’s stock valued at $20,771,000 after buying an additional 11,826 shares in the last quarter. Finally, Investment Partners LTD. bought a new stake in Alamo Group during the 3rd quarter valued at about $1,285,000. Institutional investors own 91.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Alamo Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 8th. DA Davidson increased their price objective on shares of Alamo Group from $156.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, February 27th.

Alamo Group Company Profile

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Alamo Group, Inc engages in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Its products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, snow removal equipment, zero turn radius mowers, agricultural implements, and related aftermarket parts.