Pitcairn Co. Has $335,000 Position in Alamo Group Inc. (NYSE:ALG)

Pitcairn Co. cut its holdings in Alamo Group Inc. (NYSE:ALG) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,860 shares of the industrial products company’s stock after selling 74 shares during the period. Pitcairn Co.’s holdings in Alamo Group were worth $335,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Alamo Group by 1,885.7% in the 1st quarter. Bessemer Group Inc. now owns 278 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 264 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Alamo Group by 5.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 8,933 shares of the industrial products company’s stock valued at $2,037,000 after acquiring an additional 454 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Alamo Group by 1.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,703 shares of the industrial products company’s stock valued at $7,696,000 after acquiring an additional 489 shares during the period. Janus Henderson Group PLC boosted its stake 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 acquiring an additional 51,292 shares during the last quarter. Finally, Aurora Investment Counsel grew its holdings in Alamo Group by 2.0% during the first quarter. Aurora Investment Counsel now owns 5,657 shares of the industrial products company’s stock valued at $1,292,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

Insider Buying and Selling

In other Alamo Group news, EVP Edward Rizzuti sold 276 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $195.88, for a total value of $54,062.88. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ALG has been the topic of several analyst reports. DA Davidson increased their target price on shares of Alamo Group from $209.00 to $219.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird lifted their target price on 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

Shares of ALG opened at $197.75 on Wednesday. The firm has a market cap of $2.38 billion, a P/E ratio of 19.91 and a beta of 1.08. Alamo Group Inc. has a twelve month low of $163.74 and a twelve month high of $231.40. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.39 and a current ratio of 4.15. The firm’s 50 day moving average price is $182.64 and its two-hundred day moving average price is $181.26.

Alamo Group Dividend Announcement

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

Alamo Group Company 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.