BNP Paribas Financial Markets Raises Position in Alamo Group Inc. (NYSE:ALG)

BNP Paribas Financial Markets raised its position in Alamo Group Inc. (NYSE:ALG) by 24.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,040 shares of the industrial products company’s stock after acquiring an additional 1,202 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Alamo Group worth $1,088,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Alamo Group by 2.1% in the second quarter. Arizona State Retirement System now owns 3,034 shares of the industrial products company’s stock valued at $525,000 after acquiring an additional 63 shares during the period. Huntington National Bank increased its position in shares of Alamo Group by 10.4% in the third quarter. Huntington National Bank now owns 669 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 63 shares during the period. Aurora Investment Counsel increased its position in shares of Alamo Group by 1.5% in the third quarter. Aurora Investment Counsel now owns 5,742 shares of the industrial products company’s stock valued at $1,034,000 after acquiring an additional 85 shares during the period. Diversified Trust Co increased its position in shares of Alamo Group by 6.7% in the second quarter. Diversified Trust Co now owns 1,548 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 97 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Alamo Group by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,200 shares of the industrial products company’s stock valued at $900,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Insider Buying and Selling

In related news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $195.88, for a total transaction of $54,062.88. Following the sale, the executive vice president now owns 8,439 shares of the company’s stock, valued at $1,653,031.32. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

Alamo Group Trading Up 0.1 %

Shares of ALG opened at $195.74 on Wednesday. The firm’s 50-day moving average price is $185.74 and its 200-day moving average price is $181.44. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 19.71 and a beta of 1.10. 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 Inc. has a 1-year low of $163.74 and a 1-year high of $231.40.

Alamo Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, October 15th. Alamo Group’s payout ratio is currently 10.47%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ALG shares. Robert W. Baird boosted their price objective on shares of Alamo Group from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. DA Davidson lifted 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 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.